Show Cause Notice from GST Authority over Rs 1.87 crore tax demand
DREAMFOLKS · price
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Dreamfolks Services received a Show Cause Notice from the GST Authority in Hyderabad under Section 73(1) of CGST Act for FY 2022-23. The notice cites a mismatch between input tax credit claimed in GSTR-3B and that reflected in GSTR-2A, demanding about Rs 1.70 crore in tax and Rs 17 lakh in penalty, totaling roughly Rs 1.87 crore. It says no immediate material impact on financials and will file a reply within the deadline.
Potential tax liability of around Rs 1.87 crore; company says no material impact expected and is preparing its reply. Watch for next update.