Fusion Finance Limited has informed the Exchange about General Updates
FUSION · price
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Fusion Finance Limited has received a Show Cause Notice from the Joint Commissioner Corporate Circle, Varanasi, UP, under Section 73 of the CGST/UPGST Act. The notice alleges excess Input Tax Credit (ITC) claimed and non-reversal of ITC as per Rule 42/43 of the CGST Act for the period April 2021 to March 2022. The total demand is Rs. 2.84 crore, comprising Rs. 1.56 crore as tax, Rs. 1.12 crore as interest, and Rs. 15.76 lakh as penalty. The notice was received on September 26, 2025. The company has stated it believes it has adequate legal grounds to contest the matter and does not expect any material impact on its financial or operational activities.
This is a preliminary tax demand (show cause notice) and not a final order. While the amount of Rs. 2.84 crore is not negligible, the company has expressed confidence in defending its position and does not foresee a material impact. Shareholders should monitor further developments but the short-term stock impact is likely limited.