Nuvama Wealth Management Limited has informed the Exchange about General Updates
NUVAMA · price
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Nuvama Wealth Management received an order under Section 73 of the Maharashtra GST Act, 2017, related to a show-cause notice for the period April 2021 to March 2022. The notice covered excess claim of Input Tax Credit (ITC) in GSTR-3B versus GSTR-2A and interest on delayed tax payment under reverse charge. The company settled the matter by paying approximately Rs. 72.06 lakh in total — Rs. 40.24 lakh as tax, Rs. 28.11 lakh as interest, and Rs. 3.70 lakh as penalty. Following the payment, the proceedings have been dropped and no further action is required.
This is a routine tax compliance matter that has already been fully resolved with no material impact on the company's financials, operations, or business activities. Shareholders are unlikely to see any meaningful effect on the stock.