Urban Company Limited has informed the Exchange about Action(s) initiated or orders passed
URBANCO · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Urban Company Limited has received a show cause notice from the Commercial Tax Officer, Guindy, Chennai South, Tamil Nadu, dated May 4, 2026. The notice alleges discrepancies in the company's GST returns for financial year 2022-23, specifically pointing to differences in turnover reported in GSTR 1 versus GSTR 3B and excess input tax credit claimed. The total demand is INR 8,70,03,806 (approximately Rs 8.7 crore), including interest and penalty, covering the period April 2022 to March 2023. The company contests the notice, stating it correctly discharged tax as an e-commerce operator and will respond within the prescribed timelines based on advice from external legal and tax advisors.
The company has stated that the SCN will not impact its financial, operational, or other activities. However, the INR 8.7 crore demand is material and could have financial implications if the notice is not successfully contested.