Skipper Ltd GST demand reduced to ₹40.96 Cr by Odisha tax authorities
- Odisha GST authorities reduced Skipper Ltd's demand to ₹40.96 Cr from ₹227.53 Cr
- Company disputes the revised demand citing erroneous findings and legal grounds
- Skipper states no material impact on financial position or operations
*this image is generated using AI for illustrative purposes only.
Skipper Limited received a rectified show cause notice from the Assistant Commissioner Office of State Tax (GST) Bhubaneswar II, Odisha, proposing a demand of ₹40,95,59,214 (approximately ₹40.96 crore). This amount replaces the earlier proposed demand of ₹2,27,53,28,966 (₹227.53 crore), marking a significant reduction in the disputed liability.
The rectification notice, bearing reference number MA211026001510Z and dated October 1, 2026, was issued under Section 73 of the CGST/OGST Act, 2017. It supersedes the original notice dated September 30, 2026 (Ref. No. ZD210926037570H), which had cited discrepancies between GSTR-1, GSTR-2A, and GSTR-3B filings. Skipper disclosed this development to stock exchanges on October 2, 2026, pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Company response and legal stance
In its disclosure, Skipper stated that it wholly disputes the revised demand. The company characterized the notice as being based on erroneous findings and an incorrect appreciation of facts and applicable legal provisions. The company maintains that the demand is not tenable and asserts strong substantive grounds to contest it.
Key points from the company's response include:
- The proposed amount does not represent an ascertained liability or an expected financial outflow.
- Skipper intends to pursue all appropriate legal remedies against the notice.
- The company does not accept the liability proposed in the rectified notice.
Financial impact assessment
Skipper clarified that there is no material impact on its financial position, operations, or other activities resulting from this notice. The disclosure explicitly states that the quantum of claims is not applicable (NA) in terms of accepted liability, as the matter remains under dispute.
| Particulars | Details |
|---|---|
| Issuing Authority | Assistant Commissioner Office of State Tax (GST), Bhubaneswar II, Odisha |
| Date of Rectified Notice | October 1, 2026 |
| Reference Number | MA211026001510Z |
| Revised Proposed Demand | ₹40,95,59,214 |
| Original Proposed Demand | ₹2,27,53,28,966 |
| Reason for Demand | Mismatch in GSTR-1, GSTR-2A, and GSTR-3B |
| Company Status | Disputed; no material impact reported |
The company confirmed that this intimation is also available on its official website for investor reference.
Historical Stock Returns for Skipper
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +0.29% | -6.45% | -11.63% | +6.45% | -2.92% | +560.88% |
How might the significant reduction in the disputed GST demand from ₹227.53 crore to ₹40.96 crore influence Skipper Limited's short-term credit rating and borrowing costs?
What specific legal precedents or appellate outcomes in similar GSTR-1/GSTR-2A mismatch cases could determine the final resolution timeline for Skipper Limited?
Could the rectification of the notice signal a broader shift in the Odisha GST department's enforcement strategy regarding retrospective tax demands for infrastructure companies?
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