Nucleus Software Exports Limited received a show cause notice from the Goods and Services Tax Department on September 29, 2026. The demand totals ₹17.49 crore for the financial year 2022-23.

The notice was issued by the Deputy Commissioner, Gautambuddha Nagar, Uttar Pradesh, under Section 73(1) of the CGST Act, 2017 and IGST Act, 2017. The intimation was made under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Breakdown of the demand

The total liability comprises the base tax amount along with accrued interest and penalty. The specific components of the demand are detailed below:

The tax officer raised the demand primarily due to issues regarding credit notes issued during the year, input tax credit claimed under the reverse charge mechanism, and other input tax credit matters.

Company response and impact

Nucleus Software stated that there is no impact on its financial operations or other activities. The company asserted that it has legal and factual grounds to contest the notice. It plans to take all necessary actions to defend its position before the relevant authorities.

What the numbers show

The interest component of ₹6.92 crore represents approximately 39.5% of the total demand of ₹17.49 crore. This high proportion suggests that the alleged discrepancies have been outstanding for a significant period since FY23, accruing substantial interest charges over three years.

Nucleus Software Exports Limited appointed Sudhanshu Tripathi as Chief Marketing Officer effective September 21, 2026. The appointment adds a senior executive with prior roles at Quick Heal, Sterlite Power, Cyient, Fino Paytech, and TCS to drive global growth.

The move was disclosed pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. Poonam Bhasin, Company Secretary, confirmed the intimation to stock exchanges on September 22, 2026.

Leadership Profile

Tripathi brings over two decades of experience in business strategy, go-to-market execution, and demand generation. He previously served as Chief Marketing Officer and Head of ESG at Quick Heal Technologies Limited, where he managed brand and growth mandates for both consumer and enterprise businesses while owning the digital business profit and loss.

His expertise spans category creation, inside sales, and global partner-led ecosystems. Tripathi has also engaged extensively with regulators, governments, and critical infrastructure organisations on branding and policy formulation.

Educational Background

Tripathi holds a B.E. in Electrical Engineering from Nagpur University and a management degree in Strategy and Marketing from The University of Western Australia. He is a published author with a case study featured in Harvard Business Review.

He currently serves on the Advisory Board of the CMO Council (India) and the ASSOCHAM National Council on Branding & Marketing.