Standard Engineering Technology Limited has informed the Exchange about the Order in Form GST DRC-07 issued under Section 74 of the CGST/TGST Act, 2017
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Standard Engineering Technology Limited has received an order dated March 30, 2026, from the Assistant Commissioner (State Taxes), Jeedimetla-I Circle, Hyderabad, under Section 74 of the CGST/TGST Act. The order raises a demand of ₹3,16,42,395 (about ₹3.16 crore) for FY 2019-20, relating to a difference in taxable value compared with E-waybills (Audit query 1.2.2). The company states that no specific penalty has been quantified and there are no restrictions on operations. The company is evaluating the order and intends to file an appeal before the appellate authority. The underlying show cause notice was already disclosed in the company's Red Herring Prospectus dated December 30, 2024 as part of outstanding indirect tax litigations.
This is a historical tax demand for FY 2019-20 that was already disclosed in the IPO prospectus, so it should not surprise investors. The company says there is no financial or operational impact, but the outcome of the appeal could affect future financials if the demand is upheld.