Please find attached the intimation regarding the Show Cause cum Demand Notice received from the office of the commissioner of CGST & C.EX, Audit Raigad Commissionerate.
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United Van Der Horst Ltd has informed the stock exchange about receiving a Show Cause cum Demand Notice on September 28, 2025, from the Additional Commissioner of CGST & C. Ex, Audit Raigad Commissionerate, Maharashtra. The notice pertains to alleged wrongful Input Tax Credit (ITC) claims totalling Rs. 3.40 crore (across CGST, SGST, and IGST) recoverable under Section 74(1) of the CGST Act, 2017, along with applicable interest under Section 50. The company has 30 days to respond and intends to file a detailed reply with the Adjudicating Authority. Management has stated it is confident of substantiating its position and believes the demand is not sustainable, adding there is no material impact on financial or operational activities at present.
Investors should note this is a pre-adjudication tax demand of about Rs. 3.4 crore that the company is contesting. While management downplays the impact, an adverse ruling could affect future financials; the stock may see short-term volatility until the matter is resolved.