Subsidiary NU Vista gets GST show cause notice worth about Rs 25 crore
NUVOCO · price
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On the reaction day the stock moved 3.4 pts less than Nifty Smallcap 250 and 2.6 pts less than its Cement & Cement Products peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Nuvoco Vistas' wholly-owned subsidiary NU Vista received a GST show cause notice from the tax authorities in Jajpur, Odisha on September 30, 2026. The notice proposes a tax demand of Rs 24.99 crore for FY 2022-23, plus interest and a 10 percent penalty. Disputes involve yield calculation from raw materials to finished product and denial of input tax credit due to moisture loss. The company will file an appropriate reply and states the notice will not be sustained, citing incorrect calculations and supporting documents.
Company says demand will not stand and expects no major financial impact. Subsidiary-level tax dispute, not seen as material to overall operations.