Tax & Penalty29 Sept 2026, 06:11 pm
Vikran Engineering Receives GST Show Cause Notice for ₹3.34 Cr Demand
AI Summary
Vikran Engineering Ltd has received a Show Cause Notice (SCN) from the Office of Deputy Commissioner, State Tax, Jaipur, under various sections of RGST, CGST, and IGST Acts for the Financial Year 2022-23. The notice alleges utilization of excess Input Tax Credit (ITC). The total tax demand raised is ₹33,414,995.21, with interest amounting to ₹24,124,710.00 and a penalty of ₹3,341,498.00. The company received the notice on September 28, 2026. Vikran Engineering states it does not foresee any material impact on its financial or operational activities and plans to file a detailed reply, asserting a strong case on merits.
Key Highlights
- Received GST Show Cause Notice for FY 2022-23.
- Total demand includes tax, interest, and penalty.
- Company alleges utilization of excess Input Tax Credit.
- No material financial or operational impact foreseen.
- Company plans to contest the notice with a detailed reply.
Price Impact
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