NU Vista Receives Rs 24.98 Crore Tax Demand Show Cause Notice for FY 2022-23 Over Yield Calculation and Moisture Loss:

Nuvoco Vistas Corporation Limited has disclosed that on September 30, 2026, its wholly owned subsididary, NU Vista Limited, received Show Cause Notice (SCN), proposing revision of the turnover based on incorrect calculation of yield from raw material to finished product.

Further, the notice has proposed treating the turnover reflected in Form 26AS as taxable turnover of the company and denial of input tax credit (ITC) due to loss of moisture in the raw material. The notice has proposed an aggregate demand amounting to Rs 24.98 crore, along with interest and 10% penalty, pertaining to the financial year 2022-23.

The company has high expections that the demand proposed by the show cause notice will not be confirmed, as the demand levied was due to incorrect calculations, and not in line with the law. The company further stated that it has all the requisite documents as well as legal precedents which will explicitly prove the allegations incorrect. Further the present action will not have major financial, operational and other impacts on the company.

Nuvoco Vistas Corporation Limited has made the aforementioned disclosure vide an Intimation dated October 01, 2026, addressed to the National Stock Exchange of India Limited (NSE) and Bombay Stock Exchange Limited (BSE), under Regulation 30 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Refer to the official intimation for complete information.