Subsidiary faces proposed Rs 160.82 crore GST demand
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Prestige Office Ventures, a Prestige Estates subsidiary, received a September 2 tax notice alleging non-payment or short payment of GST and non-reversal of input tax credit from February 2020 to March 2024. It must respond within 30 days. The notice seeks Rs 160.82 crore plus an equal penalty and interest; the company says the demand is not maintainable and expects no impact on its financials or operations.
The company expects no financial or operational impact and is contesting the demand, but any final tax liability and penalty remain uncertain.