Carraro India Limited has informed the Exchange about favourable closure order in connection with the Show Cause Notice Cum Demand under CGST Act, 2017.
CARRARO · price
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Carraro India has received a favorable closure order dated 26 September 2025 from the CGST Pune-I Commissionerate in connection with a Show Cause Notice Cum Demand (SCND) issued in June 2025 for FY 2018-19. The original notice related to alleged generation of multiple E-way bills for the same invoice. With this order, the entire proceedings have been dropped and the SCND stands closed. The company has obtained complete relief from a tax demand of Rs. 17.68 lakh under Section 74(1) of the CGST Act, 2017, along with an equivalent penalty of Rs. 35.36 lakh. The closure was received on 26 September 2025 at 5:08 p.m. and reduces the company's contingent liability by Rs. 35,35,866.
Positive for shareholders — a tax dispute that could have cost the company Rs. 35.36 lakh in penalties has been fully resolved in Carraro India's favor with no financial outflow, strengthening the balance sheet and removing an overhang.