Race Eco Chain gets GST show cause notice over Rs 16.75 crore Input Tax Credit

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AI summary

Race Eco Chain received a GST Demand cum Show Cause Notice from the CGST Commissionerate, Noida dated Aug 29, 2026. The notice pertains to Input Tax Credit of about Rs 16.75 crore availed from suppliers whose registrations were cancelled, covering FY 2020-21 to FY 2026-27. The matter is at a preliminary stage, no final order yet. Company plans to respond within 30 days and pursue legal remedies. Management expects no immediate operational impact.

Likely market impact

Tax dispute over Rs 16.75 crore at preliminary stage. No immediate operational impact expected. Potential financial impact only after adjudication.