Vikran Engineering Limited received a show cause notice from the State Tax authority in Jaipur demanding ₹83.62 crore regarding excess Input Tax Credit (ITC) claims for FY23.

The notice, issued by the Deputy Commissioner of State Tax, Circle-Vaishali Nagar, Jaipur-IV, was received on September 24, 2026. It cites violations under sections 73, 50, 16, 122, 59, and 160 of the Rajasthan GST Act 2017, read with the Central GST Act 2017 and section 20 of the Integrated GST Act 2017.

The core allegation involves excess ITC claimed in GSTR-3B that was not confirmed in GSTR-2A or GSTR-2B. The total demand comprises the principal tax amount, accrued interest, and penalty levied on the company.

Company response and impact

Vikran Engineering stated it does not foresee any material impact on its financial or operational activities. The company plans to file detailed objections and replies against the notice before the State Tax Officer. Management asserts that it has a strong case on merits regarding the tax dispute.

What the Numbers Show

The total financial exposure disclosed in the notice is approximately ₹1.55 crore when summing the specific line items provided in the annexure (Tax: ₹83.62 lakh, Interest: ₹62.71 lakh, Penalty: ₹8.36 lakh). However, the headline figure cited in the filing title and summary refers to ₹83.62 crore. This discrepancy suggests the headline may reflect a broader aggregate demand not fully itemized in the specific table rows, or a unit conversion error in the source text's narrative versus the tabular data. Readers should note the explicit figures listed in the regulatory annexure table.

Vikran Engineering Limited will hold a virtual investor and analyst interaction on Tuesday, September 29, 2026. The company is scheduled to participate in the Bharat Connect Conference – Rising Stars 2026, hosted by Arihant Capital Markets.

The management team will engage in a group meeting format with participants from the financial community. This initiative aims to provide deeper insights into the company's operations and strategic direction through direct dialogue.

Meeting Details

The interaction is structured as a virtual group session. Below are the specific details of the scheduled event:

Disclosure Guidelines

The company stated that discussions during the interaction will be strictly based on generally available information. Management confirmed that no Unpublished Price Sensitive Information (UPSI) will be disclosed during the session, ensuring compliance with regulatory standards for fair disclosure.

The company noted that changes to the schedule or format may occur due to exigencies on the part of the host or the company. Investors can access further details via the corporate website.