Disclosure under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
URBANCO · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Urban Company has received a Show Cause Notice from the Commercial Tax Officer, Guindy, Chennai South, Tamil Nadu, alleging discrepancies in GST returns filed for FY 2022-23. The notice, dated May 4, 2026, pertains to differences in turnover reported in GSTR 1 and GSTR 3B along with excess Input Tax Credit claimed. The total demand amounts to INR 8.70 crore (approximately Rs. 8.7 crore) including interest and penalty for the period April 2022 to March 2023. The company disputes the notice, stating that the tax officer incorrectly considered the turnover under Section 9(5) of the CGST Act (where tax was discharged by the company as an e-commerce operator) as the company's own turnover. Urban Company has stated it has a strong case supported by external legal and tax advisors and will respond within the prescribed timelines.
The company claims this SCN will not impact its financial or operational activities. However, the Rs. 8.7 crore demand and ongoing tax dispute could create uncertainty and negative sentiment among investors, particularly if the dispute escalates further.