Legal25 Mar 2026, 11:28 am
Shervani Industrial Syndicate Ltd. Faces Rs. 1.34 Crore Demand for Non-Payment of GST under Reverse Charge
AI Summary
Shervani Industrial Syndicate Ltd. has disclosed a demand of Rs. 1,33,96,340/- along with interest and equivalent penalty for non-payment of GST under reverse charge on the purchase of FAR from Prayagraj Development Authority for the FY 2019-20, 2020-21, 2021-22 & 2022-23. The demand was raised by the Assistant Commissioner, CGST & Central Excise Division-ll, Allahabad in reference to SCN No. 167/AE/AC/2025-26 dated 28.08.2025. The company plans to file an appeal within the prescribed timeline. This demand does not have a quantifiable impact on the company's financial or operational activities.
Key Highlights
- Shervani Industrial Syndicate Ltd. faces a demand of Rs. 1.34 Crore for non-payment of GST under reverse charge.
- The demand was raised by the Assistant Commissioner, CGST & Central Excise Division-ll, Allahabad in reference to SCN No. 167/AE/AC/2025-26 dated 28.08.2025.
- The demand is for the non-payment of GST on the purchase of FAR from Prayagraj Development Authority for the FY 2019-20, 2020-21, 2021-22 & 2022-23.
- The company plans to file an appeal within the prescribed timeline.
- This demand does not have a quantifiable impact on the company's financial or operational activities.
Price Impact
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