Sequent Scientific Limited has informed the Exchange about General Updates
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Awaiting price reaction for this filing.
Sequent Scientific Limited has received a Show Cause Notice (SCN) from the Deputy Commissioner of State Tax, Thane, Maharashtra, alleging discrepancies in GST tax liability during the FY 2021-22 audit. The notice proposes to disallow Input Tax Credit and levy a penalty of Rs 1,65,73,471 (approximately Rs 1.66 crore) under Section 73(1) of the CGST Act, 2017. The company was served the notice on September 30, 2025. Management has stated that the SCN has no merits and intends to file its submissions within the prescribed timelines. The company has also stated that it does not foresee any material impact on its financial, operational, or other activities from this matter.
The penalty quantum (Rs 1.66 crore) is relatively small for a listed entity and the company has explicitly stated no material financial impact. Near-term stock reaction is likely to be muted, but investors should track the outcome of the company's reply and any further proceedings.