TVS Supply Chain Gets Tax Order Worth ₹1.38 Cr from Maharashtra Authority

TVS Supply Chain Solutions Limited has received a tax demand order from the Maharashtra State Tax Authority, as disclosed in a regulatory filing. The order pertains to alleged violations during the financial year 2021-22.

Order Details and Financial Impact

The Deputy Commissioner, Maharashtra State Tax Authority has passed an order against the company on grounds of short payment of reverse charge liability and availment of ineligible credit. The total financial implications of the order are detailed below:

Component	Amount (₹)
Tax	70,51,362
Interest	60,64,171
Penalty	7,05,136
Total Demand	1,38,20,669

Nature of Alleged Violations

The order has been issued for FY2021-22 based on two primary grounds:

Short payment of reverse charge liability
Availment of ineligible credit

These allegations relate to goods and services tax (GST) compliance issues that the Maharashtra State Tax Authority has identified during their assessment of the company's tax filings for the specified financial year.

Company's Response and Impact Assessment

TVS Supply Chain Solutions has stated that this tax demand is not expected to have a material impact on the company's financial, operational, or other activities. The company has indicated its intention to contest the order through proper legal channels.

The company plans to file an appropriate response and will appeal the order before the relevant authorities within the prescribed timelines. This approach suggests that the company believes it has valid grounds to challenge the allegations made by the tax authority.

Regulatory Compliance

The disclosure was made pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. This regulation mandates listed companies to inform stock exchanges about material events that could impact investor decisions.

The filing was submitted to both BSE Limited and National Stock Exchange of India Limited, ensuring compliance with listing requirements and maintaining transparency with stakeholders regarding potential legal and financial developments.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
+0.40%	+2.34%	+1.14%	-17.05%	-36.45%	-46.00%

TVS Supply Chain Solutions Limited has received a tax demand order from the Madhya Pradesh State Tax Authority, as disclosed in a regulatory filing. The company informed stock exchanges about this development under Regulation 30 of SEBI Listing Regulations.

Order Details and Components

The Assistant Commissioner of Madhya Pradesh State Tax Authority passed the order relating to FY2018-19. The order alleges short payment of outward liability and availment of ineligible credit by the company.

Component	Amount (₹)
Tax	83,72,182
Interest	17,59,370
Penalty	83,72,182
Total Demand	1,92,49,734

Company's Response and Impact Assessment

TVS Supply Chain Solutions has assessed that this tax demand will not have a material quantifiable impact on the company's financials, operations, or other activities. The logistics company has indicated its intention to contest the order through proper legal channels.

The company plans to file an appropriate response and appeal the order before the relevant authorities within the prescribed timelines. This approach suggests the company believes it has valid grounds to challenge the tax authority's findings regarding the alleged contraventions.

Regulatory Compliance

The disclosure was made pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. TVS Supply Chain Solutions submitted the required details to both BSE Limited and National Stock Exchange of India Limited, ensuring compliance with mandatory disclosure requirements for listed entities.