Shashijit Infraprojects has received a demand-cum-show cause notice proposing a liability of ₹3,51,327 from the Central GST Daman Commissionerate. The notice, received on September 9, 2026, stems from a scrutiny of goods and services tax returns for FY22-23.

The company disclosed the development under Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015. The notice was issued by the Superintendent, Central GST, Range-I & III, Division-X, Daman Commissionerate.

Breakdown of Proposed Liability

The proposed recovery comprises three primary components related to alleged contraventions under the CGST Act, 2017. The amounts are currently at the show cause stage and remain subject to adjudication.

The total proposed liability also includes applicable interest on the excess input tax credit and penalties under relevant provisions.

Regulatory Context

The alleged violations involve the excess availment of input tax credit compared to the credit available in GSTR-2A for the fiscal year 2022-23. Additionally, the notice cites non-payment of late fees for delayed filing of GSTR-3B returns and non-payment of interest on delayed tax payments.

What the Numbers Show

The interest component constitutes the largest share of the proposed demand, accounting for approximately 69% of the total ₹3,51,327 liability. This indicates that the core dispute revolves around timing mismatches in tax payments rather than large-scale revenue discrepancies, as the principal excess ITC claim is relatively small at ₹93,177.

Shashijit Infraprojects has scheduled its 19th Annual General Meeting for September 30, 2026. The company issued the notice via BSE Limited on September 5, 2026, confirming the agenda for shareholder approval.

The Board of Directors finalized logistics on September 3, 2026. This disclosure complies with Regulation 30 and Regulation 36(1)(b) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Meeting Details and Agenda

The meeting is scheduled for September 30, 2026, at 3:00 pm via Video Conferencing or Other Audio Visual Means. Remote e-voting opens on September 27, 2026, at 9:00 am and closes on September 29, 2026, at 5:00 pm. The record date for determining eligible members is September 23, 2026.

Governance Approvals

Shareholders will receive, consider, and adopt the Audited Standalone Financial Statements for FY26. The Board also approved the Board’s Report along with its annexures for the concluded fiscal year.

Director Appointments

The agenda includes three key director-related resolutions:

• Re-appointment of Mrs. Shashi Jain: She retires by rotation and offers herself for re-appointment. She has served as a Director since November 5, 2007.
• Appointment of Ms. Asha Shravankumar Khedia: She was appointed as an Additional Director (Independent) on August 24, 2026. Shareholders will approve her appointment for a five-year term from August 24, 2026, to August 23, 2031. She is a qualified Company Secretary with over 13 years of experience in corporate advisory and compliance.
• Appointment of Mr. Santosh Kumar Purohit: He was also appointed as an Additional Director (Independent) on August 24, 2026. His appointment for a five-year term ending August 23, 2031, requires shareholder approval. He is a Civil Engineer with over 35 years of experience in construction and technical consultancy.

Voting Agency Appointment

Central Depository Services (India) Limited facilitates remote e-voting. Nitesh P. Shah, a practicing company secretary, was appointed as Scrutinizer to oversee the process.