Prudent Corporate Advisory Services Limited has informed the Exchange regarding Intimation of show cause notice of GST received by the Company.
PRUDENT · price
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Prudent Corporate Advisory Services has received a GST show cause notice (Form GST DRC-01) from the State Tax Officer of Gujarat, Ghatak 9, Range-3, Division 1 (Ahmedabad), dated September 29, 2025. The notice pertains to the financial period April 2021 to March 2022 and involves a tax demand of Rs. 20.53 lakh, interest of Rs. 14.54 lakh, and a proposed penalty of Rs. 2.05 lakh, totalling roughly Rs. 37.12 lakh. The allegations include excess input tax credit claimed on reverse charge, short reversal of proportionate ITC on exempted supplies, and claiming of blocked/ineligible ITC. The company has stated it does not foresee any material impact on its financials or operations and plans to respond to the notice within the stipulated time.
The financial exposure is relatively small compared to Prudent's overall scale, and the company has indicated no material impact. Shareholders should note this as a routine tax compliance matter, though the final outcome after the company's response remains to be seen.