Greatship India Receives 8 MVAT Review Notices Over Vessel, Rig Charter Hire Tax:

The Great Eastern Shipping Company Limited has informed the stock exchanges that its wholly owned subsidiary, Greatship (India) Limited (GIL), has received eight review notices under Section 25 of the Maharashtra Value Added Tax Act, 2002 (MVAT Act).

The notices were received on September 28, 2026, from the Joint Commissioner of State Tax, Nodal-04, Mumbai, Department of Goods and Services Tax, Government of Maharashtra. The notices relate to financial years 2013-14, 2014-15, 2016-17 and April 2017 to June 2017.

Through the notices, the Joint Commissioner has proposed to review the appeal or rectification orders earlier passed by the Deputy Commissioner of Sales Tax (Appeals), Mumbai. The proposed review concerns the tax treatment of charter hire of vessels and rigs under the MVAT Act, exemptions granted under the Central Sales Tax (CST) Act, 1956, and whether charter-hire revenue was taxed at the applicable rates.

GIL has been asked to submit its objections, if any, against the proposed review orders. The company stated that the review notices have not quantified any tax liability or demand at this stage.

According to the disclosure, the aggregate tax liability, if any, may or may not exceed the materiality threshold prescribed under the SEBI Listing Regulations. The authority has also proposed consequential interest and penalties under the applicable provisions of the CST Act and MVAT Act.

Greatship (India) Limited will attend the proceedings and submit its written objections in due course. The company has stated that all eight matters are similar in nature.

Great Eastern Shipping Company Limited has made the aforementioned disclosure vide an Intimation dated September 29, 2026, issued under Regulations 30 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.