Dr. Agarwal's Health Care Limited has informed the Exchange about Receipt of Show Cause Notice from GST Authorities

AGARWALEYE · price

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AI summary

Dr. Agarwal's Health Care Limited has received a Show Cause Notice (SCN) from the Assistant Commissioner, GST & Central Excise, Chennai, alleging discrepancies in GST returns for FY 2022-23. The discrepancies include differences in output turnover, short payment of tax under RCM, excess/ineligible ITC claims, and e-invoicing non-compliance. The GST authorities have demanded Rs. 15.08 crores along with interest and penalty. The company has 30 days to respond to the notice. Management states it is examining the notice and does not foresee any material impact on its financials or operations.

Likely market impact

While the demand of Rs. 15.08 crore is significant, the company has not accepted liability and will submit its reply. The outcome depends on the response and subsequent proceedings. Investors should monitor for further developments as the matter is still at the show cause stage.