Disclosure on Notices received from GST and to challenge the same by way of Writ in the High court Chennai
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S V Global Mill Ltd has disclosed two deemed orders passed by the Asst. Commissioner (Assessment Circle-Mylapore) under Section 73 of the GST Act for FY 2021-2022, with a combined demand of approximately Rs 1.24 crores (Rs 1.16 crore from one order and Rs 8.36 lakhs from the other, inclusive of interest and penalty). The orders came to the company's knowledge only on 19 December 2025 via telecom from the authority. The allegations relate to excess input tax credit (ITC) claims, exempt supplies without proper documentation, non-GST supplies, and wrongful ITC availing. The company states there is no material financial or operational impact and intends to challenge the orders by filing a writ petition in the Honorable High Court of Chennai.
The financial impact is being viewed as immaterial by management, but the matter introduces a near-term overhang given the Rs 1.24 crore cumulative tax demand plus potential penalties. Investors should watch for updates on the writ petition outcome, as an adverse ruling could affect earnings, though the amounts involved appear modest relative to typical company operations.