The company has received an order from GST Authorities against a show cause notice issued for a demand of Rs 91..0 Lakhs reducing it to Rs3.30 Lakhs. The company is exploring appropriate ....
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Rithwik Facility Management Services Ltd received a GST assessment order from the Tamil Nadu Commercial Tax Department (Guindy Assessment Circle) dated December 22, 2025, for FY 2021-22. The original show cause notice had raised a demand of Rs. 91.20 lakhs, but the final order reduced this sharply to Rs. 3.30 lakhs (Rs. 3,34,498), comprising Rs. 2.93 lakhs in tax, Rs. 12,000 in interest, and Rs. 29,318 in penalty. Several of the five original defects — including ITC from cancelled dealers, interest on late-reported invoices, and GSTR-1 late fees — were dropped in the company's favour. The remaining demand relates to excess ITC claims on construction services (lifts), building insurance, and certain other items. The company has stated it is examining the order and plans to explore legal recourse before the GST appellate authority within the 90-day appeal window.
The final demand is a small fraction of the original Rs. 91 lakh show cause notice and is not material in absolute terms. The company still intends to contest the residual demand, which limits any immediate cash outflow risk. Likely a minor near-term overhang on the stock but unlikely to have a meaningful price impact.