Tvs Supply Chain Solutions Limited has informed the Exchange about Action(s) taken or orders passed
TVSSCS · price
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Awaiting price reaction for this filing.
TVS Supply Chain Solutions has received an order from the Joint Commissioner of CGST & CX, Jamshedpur, alleging excess GST Input Tax Credit availed by the Company for financial years 2018-19 to 2022-23. The tax authority has alleged an excess credit of approximately ₹4.91 crore and has levied a penalty of approximately ₹4.93 crore. The Company has stated that the claim is not maintainable and that there is no material financial or operational impact. Based on advice from tax consultants, the Company plans to file an appropriate response and pursue legal/judicial remedies to contest the order.
This is a routine tax dispute and the Company has explicitly stated there is no material impact on its financials or operations. Shareholders are unlikely to see a significant stock reaction, though the matter will need to be watched if the dispute escalates.