Intimation - Disclosure under Regulation 30 of the SEBI LODR, 2015
PRAVEG · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Praveg Ltd has received a Show Cause Notice from the Central GST authority in Daman under Section 74(1) of the CGST Act, 2017. The notice alleges that the company wrongly claimed Input Tax Credit on goods and services related to construction of immovable property (other than plant and machinery), which is classified as blocked credit under Section 17(5) of the CGST Act. The notice was first communicated via email on July 31, 2025, and then formally served through the GST portal on August 20, 2025. The potential financial implication, including any penalty, is up to ₹2,46,55,446 (approximately ₹2.47 crore). The company has been asked to respond to the allegations. This filing is being made under SEBI's Listing Obligations and Disclosure Requirements Regulations to ensure compliance with disclosure norms.
Investors should note a potential tax liability of up to ₹2.47 crore, which is material for the company. The outcome will depend on the company's response and the GST authority's final order, so there may be some short-term uncertainty around the stock until clarity emerges.