TVS Srichakra Limited has informed the Exchange about Pendency of Litigation(s)/dispute(s) or the outcome impacting the Company
TVSSRICHAK · price
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Awaiting price reaction for this filing.
TVS Srichakra has received a Demand-cum-Show Cause Notice from the Additional Commissioner of CGST, Dehradun alleging a mismatch between GSTR-3B returns and E-way bills for FY 2018-19, 2019-20 and 2020-21. The total demand raised is Rs. 65.38 crores, comprising Rs. 37.55 crores in tax and Rs. 27.84 crores in penalty. The company plans to file a detailed reply within 30 days, contesting the notice. The company stated it does not expect any material financial implication, as it believes the notice lacks merit and ignores reconciliations already submitted by the company.
The dispute is pending and the company is contesting it, so there is no immediate financial hit. However, if the demand is upheld, it could impact earnings — investors should track the outcome of the company's reply and any further legal proceedings.