TVS Srichakra Faces Rs 17.53 Crore GST Show Cause Notice Over Alleged Excess ITC Availment:

TVS Srichakra Limited has informed the National Stock Exchange of India Limited (NSE) and Bombay Stock Exchange Limited (BSE) that it has received a Show Cause Notice (SCN) or Demand Notice dated September 28, 2026, from the Deputy Commissioner of State Tax, Bhiwandi, Mumbai, pertaining to the Assessment Year 2022-23 (Financial Year 2021-22).

The notice has proposed an imposition of a demand amounting to approximately Rs 17.53 Crore (including a tax of Rs 8.05 Crore, interest of Rs 7.78 Crore, and a penalty of Rs 1.70 Crore) on the company. Through the notice, the GST authorities have alleged the company has availed excess ITC (Input Tax Credit) in GSTR-3B in relation to GSTR-2B for FY 2022-23 and also that the company has not furnished any response.

The company has claimed that it had already furnished detailed responses/representations, but the same was not considered while issuing the notice.

According to the company, "the financial impact, if any, will be subject to adjudication and disposal of the matter by the appropriate authority." Further, "no final penalty, restriction, or sanction has been imposed as of the date of this disclosure."

Presently, the company is evaluating the contents of the notice and will soon furnish a detailed response to it before the concerned authority within the permitted time limit. The company believes that it has valid grounds and is not guilty. The company has claimed that it will pursue appropriate legal remedies. As of now, the concerned GST authorities have not released any final order.

The company has made the aforementioned disclosure vide an Intimation dated September 29, 2026, under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.