V-Guard Industries Limited has informed the Exchange about Action(s) taken or orders passed
VGUARD · price
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V-Guard Industries has received a Show Cause Notice from the Joint Commissioner, CGST, Audit Commissionerate, Dehradun, regarding excess availment of Input Tax Credit (ITC) and short payment of GST. The notice pertains to the period FY 2020-21 to FY 2023-24. The short payment of GST communicated amounts to INR 17,79,59,197 (approximately ₹17.8 crore). Interest and penalty are proposed under sections 74(1) and 50(3)/(1) of the CGST Act, though not yet quantified. This notice follows a final audit report (GST ADT-02), the receipt of which was already disclosed on April 7, 2026. The company states it is evaluating the notice and preparing a rebuttal, clarifying this is not a demand order and it has strong grounds to challenge the observations.
This is a GST tax dispute, not yet a confirmed penalty. The ₹17.8 crore GST shortfall is material, but since the company plans to challenge the notice, the financial impact remains uncertain and contingent on the outcome of the rebuttal process.