GST show cause notice to Max Estates for Rs 2.59 Cr proposed demand
MAXESTATES · price
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Max Estates received a GST show cause notice from UP State Tax Department for FY23, related to a merged entity. Proposed demand of Rs 2.59 Cr comprises tax Rs 1.35 Cr, interest Rs 97.25 L, and penalty Rs 26.65 L, mainly on GST return and reconciliation issues. No final order passed yet. Company will file its reply and says there is no impact on operations.
Demand is small relative to company size and only at notice stage. Watch outcome of adjudication but unlikely to materially affect stock.