Stanley Lifestyles Limited has informed the Exchange about General Updates
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Awaiting price reaction for this filing.
Stanley Lifestyles' wholly owned subsidiary, Stanley OEM Sofas Limited, received a GST audit report (Form GST ADT-02) from the Deputy Commissioner of Commercial Taxes, Bengaluru on July 8, 2025. The audit pertains to FY2022-23 and proposes a total tax and interest liability of approximately ₹1.63 crore. Issues flagged include differences between declared turnover and books, excess/ineligible Input Tax Credit (ITC) claims, delayed payments to suppliers beyond 180 days, and non-filing of Form ITC-04. No penalty or sanction has been imposed at this stage — only proposed tax and interest. The subsidiary is reviewing the findings and plans to contest the matter through legal representation before the appropriate authorities.
The proposed liability is provisional and remains contested, so no immediate financial hit is confirmed. If upheld, the ~₹1.63 crore outflow is modest relative to the listed entity's scale, but it introduces some near-term uncertainty until the matter is resolved.