News Stocks Dreamfolks Services Receives GST Demand Order Worth ₹7.00 Crore from Revenue BureauDreamfolks Services Receives GST Demand Order Worth ₹7.00 Crore from Revenue Bureau
Dreamfolks Services Limited received a GST demand order of ₹7.00 crore from Revenue Bureau Investigation for alleged place of supply violations under IGST Act for FY 2022-23. The demand includes tax of ₹6.37 crore and penalty of ₹63.66 lakh split equally between CGST and SGST. The company expects no immediate material impact and is evaluating options to challenge the order.
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Dreamfolks services Limited has received a GST demand order worth ₹7.00 crore from the Revenue Bureau of Investigation, the company disclosed in a regulatory filing dated March 10, 2026. The order was issued by the Office of the Special Commissioner of Revenue, Bureau of Investigation (South Bengal) and received by the company on March 09, 2026.
GST Demand Breakdown
The demand order imposes both tax and penalty components across Central GST (CGST) and State GST (SGST) categories:
| Head: | Tax (₹) | Penalty (₹) | Total (₹) |
|---|---|---|---|
| CGST: | 3,18,28,334.75 | 31,82,833.50 | 3,50,11,168.25 |
| SGST: | 3,18,28,334.75 | 31,82,833.50 | 3,50,11,168.25 |
| Total: | 6,36,56,669.50 | 63,65,667.00 | 7,00,22,336.50 |
Nature of Alleged Violation
The GST demand pertains to alleged violations of provisions relating to 'place of supply' under Section 12(3) of the Integrated Goods and Services Tax Act, 2017. The violations are specifically related to the financial year 2022-23, indicating the demand covers transactions from that period.
Company's Response and Impact Assessment
Dreamfolks Services has stated that it does not presently envisage any immediate material impact on its financials, operations or other activities arising from this matter. The company is currently evaluating appropriate recourse of action to challenge the aforesaid order.
The disclosure was made under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, ensuring compliance with regulatory requirements for material events that could impact stakeholder interests.
Regulatory Compliance
The company has fulfilled its disclosure obligations by informing both BSE Limited and National Stock Exchange of India Limited about the GST demand order. The information has also been made available on the company's official website at www.dreamfolks.com , ensuring transparency for all stakeholders.
Historical Stock Returns for Dreamfolks Services
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +2.87% | -4.77% | -19.78% | -45.73% | -68.51% | -83.78% |
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