Disclosure under Regulation 30 Final Order received under Section 73(6) of CGST/KGST Act, 2017 by M/s. Stanley OEM Sofas Limited, wholly owned subsidiary of Stanley Lifestyles Limited
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Stanley Lifestyles Limited disclosed that its wholly owned subsidiary, Stanley OEM Sofas Limited, received a final order from the Deputy Commissioner of Commercial Taxes, Bengaluru under Section 73(6) of the CGST/KGST Act, 2017. The order relates to an alleged tax liability for FY 2022-23, arising from audit findings. The company submitted a reply within prescribed timelines, and the assessment proceedings stand closed as on date. The date of receipt of the final order is 02-04-2026. The company has stated the impact is not significant.
This is a routine GST tax adjudication matter concerning a subsidiary and is not expected to materially affect Stanley Lifestyles' financials or operations.