GST advisory received from Punjab tax authorities on ITC compliance
NAVNETEDUL · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Navneet Education received an advisory on 15 July 2026 from the Assistant Commissioner of State Taxes in Punjab regarding compliance with GST rules on reversal of Input Tax Credit (ITC) for exempt supplies. The tax department observed the company made both exempt and taxable supplies in FY 2025-26 and FY 2026-27 (up to May 2026). The company must verify compliance with Section 17(2) of the CGST Act and reverse any ineligible ITC if applicable. The company has stated there is no material impact on financials or operations.
Routine tax advisory, not a penalty or order. Company confirms no material financial or operational impact. Watch for any further escalation.