TVS Electronics Faces ₹1.75 Cr GST Litigation

TVS Electronics Ltd has disclosed a material pending litigation concerning a GST demand. The Deputy Commissioner, Uttarakhand GST Authority, has issued a Show Cause Notice alleging excess availment of Input Tax Credit (ITC) for the tax period April 2022-March 2023. The expected financial implication, including interest and penalty, amounts to ₹1,75,34,463. The company is currently in the process of filing its reply to the notice.