Ashiana Housing receives ₹3.45 Cr GST demand notice from Tamil Nadu
- Ashiana Housing received a GST demand of ₹3.45 crore from Tamil Nadu authorities
- The order cites discrepancies in FY25 turnover declarations for the Chennai location
- The company plans to appeal the decision before the Commissioner (Appeals)
- Management stated there is no significant impact on financial performance
*this image is generated using AI for illustrative purposes only.
Ashiana Housing received a Goods and Services Tax (GST) demand notice of ₹3,44,89,552 from Tamil Nadu tax authorities on September 3, 2026. The order cites alleged discrepancies between taxes paid and turnover declared for the Chennai location.
The State Tax Officer, Group-IX, Chengalpattu Intelligence Division, issued the Order-in-Original on August 31, 2026. The demand arises under Section 74 of the Tamil Nadu Goods & Service Tax (TNGST) Act 2017. It pertains to differences between GST returns filed and financial turnover declared in GSTR 9C for FY25.
Regulatory Context
The disclosure was made under Regulation 30 of the SEBI (LODR) Regulations. The company referenced SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/1/3762/2026 dated January 30, 2026, while filing the announcement with stock exchanges.
| Detail | Information |
|---|---|
| Authority | State Tax Officer, Group-IX, Chengalpattu |
| Order Date | August 31, 2026 |
| Receipt Date | September 3, 2026 |
| Demand Amount | ₹3,44,89,552 |
| Applicable Law | TNGST Act 2017, Section 74 |
Company Response
Ashiana Housing stated it will contest the order before the Commissioner (Appeals). The company asserted that the demand will have no significant impact on its financial or operational performance. It is currently reviewing the matter to prepare appropriate legal action.
Nitin Sharma, Company Secretary and Compliance Officer, signed the disclosure. The registered office is located in New Delhi, with additional operations in Kolkata.
Historical Stock Returns for Ashiana Housing
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -0.48% | -0.58% | -6.17% | +13.41% | +16.64% | +118.38% |
How might the outcome of this GST appeal influence Ashiana Housing's credit ratings or future debt financing costs?
Are there indications that similar GST scrutiny is being applied to other real estate developers in the Tamil Nadu market?
What specific legal precedents or interpretations of Section 74 of the TNGST Act will Ashiana Housing likely rely on to contest the turnover discrepancy?
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