Nuvoco subsidiary gets Rs 15.41 cr GST show cause notice
NUVOCO · price
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Nuvoco's wholly owned subsidiary NU Vista received a Show Cause Notice from CGST Durgapur proposing denial of input tax credit on items like civil construction, toll charges, canteen, and reduction in output tax liability from credit notes. The proposed demand of Rs 15.41 crores covers FY 2020-21 to FY 2023-24. The company will file a reply and believes it has strong documentary evidence, expecting no major financial impact.
Tax demand of Rs 15.41 cr is small versus company size; company expects no major impact as it plans to contest with documentary evidence.