Announced Sat, 25 Jul · 18:37 IST
Jay Ushin receives GST show cause notice over Rs 1.22 crore demand
Regulatory & Legal View source PDF
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Price reaction · full curve 14 horizons · vs prior close
-2.4%1-day move
₹857.00
prior close
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base price
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AI summary
Jay Ushin received a Show Cause Notice on July 24, 2026 from GST authorities in Sriperumbudur, Tamilnadu. Alleged Input Tax Credit discrepancies for FY2023-24 under Section 73 of the GST Act. Demand: Rs. 1,21,68,632 plus interest and penalty. Company says returns were correctly filed and previously audited by CGST without dispute. No material financial impact expected; reply being filed within timeline.
Likely market impact
Minor concern; company contests the demand and expects no material impact. This is a notice, not an order.