Jay Ushin Limited has received a show cause notice dated July 24, 2026, from the Assistant Commissioner of Goods and Services Tax (GST), Sriperumbudur, Kancheepuram, Tamil Nadu, alleging tax dues of ₹1,21,68,632. The notice, issued under Section 73 of the Goods and Services Tax Act, 2017, pertains to alleged discrepancies in Input Tax Credit (ITC) reconciliation reflected in the company’s GST returns for FY 2023-24. The company disclosed the receipt on July 25, 2026, under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The regulatory authority alleges unreconciled ITC and enabled ITC for the period FY 2023-24 due to variances in GST returns. The show cause notice demands ₹1,21,68,632 as GST liability, excluding applicable interest and penalty, which are equivalent to the alleged tax dues if any. This disclosure is made in compliance with Schedule III of the SEBI LODR Regulations and SEBI Master Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024.

Key Details of the Notice

Jay Ushin Limited maintains that the proposed GST demand is not justified based on facts and applicable law. The company stated that its GST returns were correctly filed and had earlier been audited by the CGST Department without any dispute on the issues now raised. Consequently, Jay Ushin does not expect any material impact on its financials, operations, or other activities. Any financial impact will be limited to the final liability determined upon completion of adjudication proceedings.

Company Response and Next Steps

The company is preparing an appropriate reply to be filed before the GST authorities within the prescribed timeline. Compliance Officer and Company Secretary Jyoti Kataria signed the disclosure, affirming that the information provided is true and correct to the best of the company’s knowledge. The matter remains subject to adjudication proceedings, with no penalties or restrictions imposed at this stage.

Jay Ushin Ltd has closed its trading window for all designated persons and their immediate relatives effective July 1, 2026. The restriction will remain in place until 48 hours after the company declares its financial results for the quarter ending June 30, 2026. This action is intended to prevent insider trading in line with regulatory requirements.

The closure follows the company's Internal Code of Conduct for Prevention of Insider Trading, framed under the SEBI (Prohibition of Insider Trading) Regulations, 2015. The regulation mandates such closures to ensure that no unpublished price-sensitive information is exploited during the period leading up to financial announcements.

Key Dates

The intimation was submitted to BSE Limited on June 23, 2026. Jyoti Kataria, Compliance Officer & Company Secretary, signed the disclosure on behalf of the company.