TeamLease gets GST show cause notice for FY23, demand of Rs 52.76 cr
TEAMLEASE · price
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TeamLease got a GST show cause notice from Karnataka Commercial Taxes dept for FY 2022-23, received Sept 29, 2026. Of 9 issues raised, 7 were dropped earlier. Two remain: turnover adjustments of Rs 42.48 cr and exempt supply under-reporting of Rs 18.16 cr. Total demand: Rs 52.76 cr (tax Rs 28.92 cr, interest Rs 20.95 cr, penalty Rs 2.89 cr). Company disputes the tax rate applied, claiming the exempt supply tax is overstated by Rs 3.27 cr. Will reply by Oct 29. Disclosed to exchanges with a 13-day delay due to an internal communication gap.
Potential liability of about Rs 52.76 cr if notice is upheld. Company disputes part of the demand. Watch for reply outcome and next hearing.