Please find attached letter for additional details of Show Cause Notice filed by the Company vide its letter dated September 29, 2025
TIMEX · price
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Awaiting price reaction for this filing.
Timex Group India received a show cause notice (Form GST DRC-01) under Section 74(1) of the GST Act from the Assistant Commissioner (ST) in Chennai's Vadapalani Assessment Circle. The notice, dated September 23, 2025 and received on September 27, alleges the company availed Input Tax Credit (ITC) in excess of what was distributed by its Input Service Distributor (ISD) for FY 2019-20. The company plans to respond with the help of a legal consultant. The financial impact is minimal at just INR 6,249 including interest and penalty. There was a one-day delay in disclosing this to the stock exchange because the email was received on a Saturday.
The monetary impact is negligible at INR 6,249, so this is unlikely to affect the stock price or operations meaningfully. However, investors should note that the company had a minor compliance lapse in timely disclosure to the exchange.