Samrat Forgings Limited Receives GST Show Cause Notice Worth ₹8.16 Lakh
Samrat Forgings Limited has received a show cause notice from the Excise and Taxation Department, Mohali, Punjab, alleging GST compliance issues. The notice, issued under Section 174(A)(1) of PGST/CGST Act, claims incorrect tax liability declaration and wrong input tax credit claims. The amount involved is ₹8.16 lakh, including tax and interest. The company is currently reviewing the allegations and evaluating its input tax credit. Samrat Forgings states that this notice has no major impact on its financial, operational, or other activities.
*this image is generated using AI for illustrative purposes only.
Samrat Forgings Limited has received a show cause notice from the Excise and Taxation Department, Mohali, Punjab, as disclosed to BSE Limited. The notice relates to alleged GST compliance issues.
Show Cause Notice Details
The regulatory filing provides comprehensive information about the notice received by the company:
| Parameter | Details |
|---|---|
| Issuing Authority | Excise and Taxation Department, Mohali, Punjab |
| Notice Type | Section 174(A)(1) of PGST/CGST Act |
| Form | GST-DRC-01-A |
| Amount | ₹8.16 lakh (including tax and interest) |
Nature of Alleged Violation
According to the show cause notice, the tax authorities have identified potential compliance issues during their examination process. The notice alleges that:
- Incorrect tax liability was declared by the company
- Wrong input tax credit was claimed during the assessment period
The authorities conducted their assessment based on examination of returns, records, and available information, which led to the issuance of the show cause notice in GST Form DRC-01-A.
Company's Response and Impact Assessment
Samrat Forgings Limited has indicated that it is currently reviewing the allegations mentioned in the notice. The company's response includes:
- Assessment of details mentioned in the show cause notice is underway
- Evaluation of input tax credit availed by the company is in progress
- Necessary action will be taken after due evaluation of the matter
Regarding the potential impact on business operations, the company has clarified that there is no major impact on its financial, operational, or other activities due to this show cause notice.
Regulatory Compliance
The disclosure was made under Regulation 30(2) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, read with Clause 20 of Para A of Part A of Schedule III. This ensures transparency with stakeholders regarding material developments that could affect the company.
Historical Stock Returns for Samrat Forgings
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +2.40% | -1.04% | -4.69% | -8.56% | -20.82% | +177.65% |
19
