TVS Srichakra Receives ₹17.53 Cr Tax Show Cause Notice

TVS Srichakra Limited has received a Show Cause Notice from the Deputy Commissioner of State Tax, Bhiwandi, Mumbai, for the Assessment Year 2022-23. The notice alleges excess availment of Input Tax Credit (ITC) and proposes a total demand of approximately ₹17.53 Crore, comprising ₹8.05 Crore in tax, ₹7.78 Crore in interest, and ₹1.70 Crore in penalty. The company is currently evaluating the notice and plans to file a detailed response, believing it has valid grounds to contest the allegations. No final order has been passed, and the financial impact is subject to adjudication.