Inspirisys Solutions Limited , a Chennai-based IT services company, has come under regulatory scrutiny regarding its Input Tax Credit (ITC) claims for the fiscal year 2021-22. The company recently disclosed that it has received a Show Cause Notice from the Joint Commissioner, Office of the Principal Commissioner of CGST and Central Excise, Chennai - North Commissionerate.

Details of the Notice

The notice, dated September 30, 2023, seeks clarification on an alleged excess Input Tax Credit availed by Inspirisys Solutions Limited. The amount in question totals Rs 5.03 crore (Rs 502.51 lakhs) for the financial year 2021-22.

Company's Response

In its regulatory filing, Inspirisys Solutions stated that there are no expected financial implications due to compensation or penalty at this stage. The company has also confirmed that no litigation has been filed in any court or tribunal regarding this matter as of now.

Regulatory Compliance

The disclosure of this information aligns with the company's obligations under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Inspirisys Solutions has promptly informed the stock exchanges about the receipt of this Show Cause Notice.

Next Steps

While the company has not provided details on its planned response to the notice, it is expected that Inspirisys Solutions will engage with the tax authorities to address the concerns raised. The outcome of this scrutiny could have implications for the company's financial statements and tax liabilities for the period in question.

Investors and stakeholders will likely keep a close watch on how this matter unfolds, as it could potentially impact the company's financial position if any discrepancies in tax credits are confirmed.

Market Impact

As of now, the company maintains that there are no immediate financial implications. However, the market will be watching closely for any developments that could affect the company's financial health or regulatory standing.

Shareholders and potential investors are advised to keep an eye on further announcements from the company regarding this tax credit inquiry.

Inspirisys Solutions Limited has successfully completed the voluntary liquidation of its wholly owned subsidiary, Inspirisys Solutions Japan KK (ISJKK), marking a significant corporate restructuring move for the company.

Liquidation Timeline

The liquidation process for ISJKK followed a structured timeline:

• Completion Date: July 14, 2025
• Official Registration: July 15, 2025
• Liquidation Certificate Received: August 19, 2025

Official Notification

In compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, Inspirisys Solutions Limited formally notified the National Stock Exchange of India and BSE Limited about the completion of the liquidation process. The company received the ISJKK Liquidation Certificate on August 19, 2025, at 10:45 A.M. IST, issued by the Tokyo Legal Affairs Bureau, Japan.

Background

This development follows the company's earlier intimation dated February 7, 2025, regarding the initiation of the voluntary liquidation process for ISJKK. The completion of this process signifies a strategic move by Inspirisys Solutions Limited to streamline its international operations.

Company Information

Inspirisys Solutions Limited, headquartered in Chennai, Tamil Nadu, is a technology solutions provider. The company is listed on both the National Stock Exchange of India and the Bombay Stock Exchange.

The successful completion of this liquidation process may have implications for Inspirisys Solutions' global strategy and financial structure. Investors and stakeholders are advised to monitor further communications from the company for any potential impacts on its operations or financial performance.