Glottis Limited has informed the Exchange about the receipt of ASMT 10 from GST department.
GLOTTIS · price
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Glottis Limited has received a GST scrutiny notice (Form GST ASMT-10) from the Office of Superintendent of GST & Central Excise, dated 17th April 2026 and received on 20th April 2026. The notice pertains to Financial Year 2022-23 and alleges wrongful availment and utilisation of excess Input Tax Credit (ITC), including claims of ineligible ITC. The department has proposed an aggregate tax liability of approximately ₹2.73 crore, which remains subject to adjudication. The company states it is examining the allegations and will file appropriate responses within prescribed timelines. Management claims there is currently no material impact on the financial position or operations of the company. The disclosure was delayed due to a technical issue.
The ₹2.73 crore tax liability claim is significant but not yet confirmed, as it is pending adjudication. While the company downplays any material impact, this notice signals a potential tax dispute that investors should monitor, as an adverse adjudication outcome could affect the company's financials.