Skipper Ltd receives ₹227.53 crore GST show cause notice over filing mismatches
- Skipper Limited received a show cause notice proposing a demand of ₹2,27,53,28,966 from GST authorities in Odisha.
- The demand stems from alleged mismatches between GSTR-1, GSTR-2A, and GSTR-3B filings.
- The company disputes the liability, citing erroneous findings and incorrect legal interpretation.
- Skipper states there is no material impact on its financial position or operations from this notice.
*this image is generated using AI for illustrative purposes only.
Skipper Limited has received a show cause notice from the Assistant Commissioner Office of State Tax (GST) Bhubaneswar II, Odisha, proposing a demand of ₹2,27,53,28,966 (approximately ₹227.53 crore). The notice, issued on September 30, 2026, cites discrepancies between GSTR-1, GSTR-2A, and GSTR-3B filings.
The communication was issued under Section 73 of the CGST/OGST Act, 2017, with reference number ZD210926037570H. Skipper disclosed this development to stock exchanges on October 1, 2026, pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Company Response and Legal Stance
In its disclosure to the National Stock Exchange and BSE, Skipper stated that it wholly disputes the proposed demand. The company characterized the notice as being based on erroneous findings and an incorrect appreciation of facts and applicable legal provisions.
Key points from the company's response include:
- The proposed amount does not represent an ascertained liability or an expected financial outflow.
- Skipper asserts strong and substantive grounds to contest the demand.
- The company intends to pursue all appropriate legal remedies against the 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 Notice | September 30, 2026 |
| Reference Number | ZD210926037570H |
| 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 |
|---|---|---|---|---|---|
| +1.89% | -4.63% | -0.92% | +61.87% | +5.08% | +581.35% |
How might Skipper Limited's legal challenge strategy influence the timeline for resolving this ₹227.53 crore GST dispute?
What potential impact could this significant tax demand have on Skipper Limited's credit ratings and borrowing costs if the dispute escalates?
Are there similar GST compliance issues affecting other major steel and infrastructure companies in Odisha that could signal broader regulatory scrutiny?
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