Nuvoco Vistas Corporation Limited has informed the Exchange about Show Cause Notice received from The Excise & Taxation Officer cum Proper Office (ST), Charki Dadri, Haryana
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Nuvoco Vistas received a Show Cause Notice on June 2, 2025 from the Excise & Taxation Officer in Charki Dadri, Haryana, under Section 74 of the CGST Act, 2017. The notice seeks to deny input tax credit claimed by the company for FY 2018-19 and raises a total demand of Rs. 6,50,29,591 (roughly Rs. 6.5 crore), including tax, interest, and penalty. The company has stated that the demand is based on erroneous grounds and ignores the explanations, reversals, and reconciliations it had already submitted. Nuvoco plans to file an appropriate reply and believes the notice will not survive, as it is barred by limitation and violates natural justice.
The company expects no major financial impact, as it believes the demand will be set aside at the first adjudication level. The Rs. 6.5 crore figure is small relative to the company's size, so any short-term stock reaction is likely to be limited.