Announced Wed, 17 Jun · 17:53 IST
Lyka Labs gets GST show cause notice for Rs 73.22 lakh refund claim
Regulatory & Legal View source PDF
LYKALABS · 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
-4.3%1-day move
₹70.87
prior close
₹70.01
base price
After-mkt
timing
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-0.7+1.4+1.4+2.7-4.3-3.9-6.1-0.4+0.5+4.3+1.2-3.3——
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AI summary
Lyka Labs received a Show Cause-cum-Demand Notice from CGST Mumbai East demanding Rs 73.22 lakh for alleged erroneous IGST refunds on exports under Advance Authorisation, said to be in contravention of Rule 96(10) of CGST Rules, 2017. Period covers FY 2020-21 to 2024-25. Company disputes the demand, arguing Rule 96(10) was omitted from October 2024 without any saving clause. Says no material impact on financials and will defend.
Likely market impact
Tax demand of about Rs 73.22 lakh is disputed. Management says no material financial or operational impact. Outcome of defence will decide final liability.