Ashiana Housing Ltd has informed stock exchanges about receiving a GST demand order worth ₹12,94,084 from tax authorities in Jaipur. The demand, issued under section 73 of the CGST Act 2017, includes interest and penalty components and pertains to alleged irregularities in Input Tax Credit (ITC) availment.

GST Demand Details

The company received the Order-in-Original dated December 29, 2025 on January 02, 2026 from the Superintendent – CGST Range, Jaipur (Rajasthan). The demand specifically relates to wrong availment of ITC from suppliers for non-filing of GST Returns.

Nature of Alleged Violation

According to the regulatory filing, the GST authorities have alleged that the company wrongly availed Input Tax Credit from suppliers who failed to file their GST Returns. This violation falls under the provisions of the CGST Act 2017, which governs the availment and utilization of input tax credits by registered taxpayers.

Company's Response Strategy

Ashiana Housing has announced its intention to contest the demand order through the appropriate legal channels. The company plans to file an appeal against the GST department's decision, indicating its disagreement with the allegations made by the tax authorities.

Financial Impact Assessment

The company has stated that no significant impact on financial or operational performance has been observed as a result of this demand. However, Ashiana Housing is currently in the process of reviewing and reconciling its records to assess the monetary implications of the GST demand order.

The disclosure was made in compliance with Regulation 30 of the SEBI (LODR) Regulations and SEBI Circular No. SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated July 13, 2023, which mandates listed companies to inform exchanges about material developments that could impact their operations.

India's retirement planning landscape is undergoing a significant transformation as the senior living market gains momentum, driven by rising healthcare costs, safety concerns, and the growing demand for predictable living expenses. A recent JLL-ASLI report reveals that the organised senior living market is projected to reach nearly $8 billion by 2030, reflecting substantial demographic shifts and evolving healthcare needs among India's ageing population.

Market Growth and Financial Impact

The senior living sector's rapid expansion is reshaping how retirees approach post-retirement finances. The projected market size demonstrates the substantial economic opportunity and growing acceptance of organised senior living as a viable retirement solution.

Integrated Healthcare and Safety Features

Senior living communities are designed with comprehensive safety and healthcare integration that directly impacts retirement financial planning. These facilities incorporate essential features that help residents manage health-related expenses more predictably and reduce the risk of costly medical emergencies.

Key amenities include:

• Non-slip flooring and step-free access
• Grab rails and emergency response systems
• On-call medical support
• Integrated daily healthcare monitoring

These features aim to reduce accident risks and hospitalisation costs, enabling households to better forecast and manage their healthcare expenditure during retirement years.

Financial Profile and Investment Patterns

The typical senior living community buyers represent a specific financial demographic that reflects changing retirement planning strategies. These buyers are typically over 55 years old, financially independent, and supported by diverse income streams including pensions, rental income, or long-term investments.

Many residents adopt a strategic approach by downsizing from larger homes and reallocating capital toward housing that provides integrated healthcare support and enhanced security. This financial restructuring allows families to optimise their retirement resources while ensuring access to necessary care services.

Industry Perspectives on Retirement Evolution

"Retirement in India is no longer just about stepping back," said Ankur Gupta, co-founder of ASLI and joint managing director of Ashiana Housing . "Seniors are seeking independence, social engagement, predictable living costs, and access to healthcare support without over-relying on their children."

Anantharam V Varayur, co-founder of Manasum Senior Living, emphasised the financial benefits of integrated care: "When care is integrated into daily living, it helps seniors avoid many downstream costs associated with emergency healthcare and unmanaged ageing."

Market Demand and Supply Dynamics

The JLL-ASLI report highlights a significant gap between demand and supply in the senior living sector, indicating substantial growing interest from both households and investors. This market imbalance suggests strong potential for continued growth and investment opportunities in housing formats that combine safety, healthcare, and financial predictability.

Families with children living elsewhere are increasingly utilising senior living options to reduce caregiving responsibilities while ensuring their parents receive appropriate care and support. This trend reflects broader changes in family structures and geographical mobility patterns affecting retirement planning decisions across India.