Subsidiary gets GST show cause notice for about Rs 38.45 crore demand
EMMVEE · price
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Material subsidiary Emmvee Energy received a GST Show Cause Notice dated Sep 30, 2026 from Karnataka State GST Department alleging excess Input Tax Credit claim for FY 2022-23. Proposed demand of Rs 20.39 crore tax plus Rs 16.02 crore interest and Rs 2.04 crore penalty, totalling about Rs 38.45 crore. Company disputes the allegations, says it only claimed eligible ITC of Rs 11.51 crore, and will file a response. Expects no material financial impact.
Contested GST demand of about Rs 38.45 crore on subsidiary. Company expects no material impact, but outcome remains uncertain until resolved.