Tax & Penalty29 Sept 2026, 11:20 pm
Urban Company Receives GST Show Cause Notice for ₹3.04 Cr
AI Summary
Urban Company Limited has received a show cause notice from the SGST, Gurugram authorities alleging incorrect availment of input tax credit and short payment of tax for the financial year 2022-23. The notice demands ₹1,67,39,123 in tax, ₹1,20,52,168 in interest, and ₹16,73,912 in penalty, totaling ₹3,04,65,203. The company asserts it has correctly availed input tax credit and has a strong case on merits, supported by legal and tax advisors. Urban Company plans to respond within the prescribed timelines and states the notice will not impact its financial or operational activities.
Key Highlights
- GST authorities issued a show cause notice to Urban Company.
- Allegations include incorrect input tax credit and short tax payment.
- Total demand stands at ₹3.04 crore (tax, interest, penalty).
- Company believes it has a strong case and will respond.
- No expected impact on financial or operational activities.
Price Impact
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