Quess Corp Limited has informed the Exchange about Disclosure under Regulation 30 of SEBI Listing Regulations
QUESS · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Quess Corp has received an order in Form GST DRC-07 from the Office of Assistant Commissioner of CGST & C.Ex., Division-X, Mumbai East, dated March 18, 2026, and received by the company on March 30, 2026. The order, passed under Section 74 of the CGST Act, 2017, imposes a penalty of Rs. 39.36 lakhs. The allegations relate to short payment of tax of Rs. 2.68 lakhs (difference between GSTR-3B and GSTR-1) and excess claim of Input Tax Credit of Rs. 36.67 lakhs (difference between GSTR-3B and GSTR-2A). The company has stated there is no material impact on its financials or operations and is in the process of filing an appeal with the Appellate Authority.
The penalty is small relative to the company's size and the company itself says there is no material financial or operational impact. The stock is unlikely to see a meaningful reaction, though the final outcome of the appeal will determine the actual cost.