Neogen Chemicals Receives Rs 6.97 Crore GST Show-Cause Notice for FY23 Over ITC Claims, Tax Mismatches:

Neogen Chemicals Limited has received a show-cause-cum-demand notice from the Office of the Commissioner, CGST and Central Excise Commissionerate, Belapur for financial year 2022-23.

The notice dated September 5, 2026, asks for consolidated tax of Rs 6.97 crore along with interest and penalties as applicable. The company said the principal tax amount of Rs 1.39 crore, paid earlier through DRC-03, has been set off against the tax liability.

The tax department has raised demands on several issues like mismatch between GSTR-1 and GSTR-3B, excess input tax credit claimed on imports, difference between GSTR-3B and GSTR-2A/2B etc.. The authorities have also questioned certain SEZ and import-related input tax credit claims.

Neogen Chemicals said it is currently evaluating the notice and will submit a detailed response to the adjudicating authority within the prescribed timeline. The company also said it will take appropriate legal steps and pursue all available remedies.

According to the company, the notice is not expected to have any material impact on its financial or operational activities, apart from the amount mentioned in the tax demand.