Shriram Finance gets GST penalty of about Rs 47 lakh from Tamil Nadu tax office
SHRIRAMFIN · price
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Shriram Finance received an order dated January 31, 2026 from the Commercial Tax Officer, Chennai South, levying a penalty of Rs 46.91 lakh for FY 2022-2023 under Section 74 of the Central GST Act. The demand relates to disallowance of input tax credit on reverse charge payments and a credit note, from the erstwhile Shriram City Union Finance (merged with Shriram Finance from April 2022). Total tax demand is Rs 46.91 lakh plus a similar penalty amount. The company says there is no material financial impact and will seek opinion from its tax consultant before deciding next steps.
Minor tax penalty of about Rs 47 lakh; company says no material financial impact and will review options with its tax advisor.