Announcement under Regulation 30 of SEBI (LODR) Regulations, 2015 - Intimation of Tax Litigation
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Veer Global Infraconstruction has disclosed a GST-related tax litigation filed against it. The CGST Department issued a Show Cause Notice dated 30 September 2025 under Section 74 of the CGST Act, 2017 (which typically deals with cases of alleged fraud, willful misstatement, or suppression of facts). The total GST demand raised is approximately ₹22.13 crore, with additional interest and penalty as applicable. The company has filed a Writ Petition before the Bombay High Court on 13 November 2025, challenging the show cause notice. The outcome of this litigation could have a material impact on the company's financials if decided adversely.
A ₹22+ crore GST demand is a significant potential liability for this small-cap company and could materially affect its financials if the writ petition is dismissed. Shareholders should monitor the Bombay High Court proceedings closely, as an adverse ruling could pressure the stock and earnings.