GST Show Cause Notice: Rs 103.57 Crore Demand for FY 2022-23
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Spectrum Talent Management received a GST Show Cause Notice from the UP State Tax Authority in Noida for FY 2022-23. Proposed demand totals Rs 103.57 crore, comprising tax of Rs 56.97 crore, interest of Rs 40.90 crore, and penalty of Rs 5.70 crore. Issues flagged include input tax credit, credit notes, and substantiation of zero-rated supplies to exports and SEZs. The company will file a reply and pursue legal remedies. No immediate financial impact as adjudication is pending.
Large demand proposed but only a show cause notice so far. Company will contest. Negative for sentiment; financial hit only if upheld.