30-Sept-2026 19:28:19
THIRUMALAI CHEMICALS: SHOW CAUSE NOTICE ISSUED BY ASSISTANT COMMISSIONER
• The company received a show cause notice from the Office of Assistant Commissioner, Ranipet (Sipcot), Assessment Circle, Ranipet. • The notice, issued under Section 73 of the CGST Act, 2017, pertains to alleged discrepancies under exempted turnover, excess claim of ITC, and short payment of tax for the Assessment Year 2022-2023. • The alleged discrepancies amount to ₹7.37 lakhs (Tax), ₹5.31 lakhs (Interest), and ₹0.84 lakhs (Penalty), totaling ₹13.52 lakhs. • The company believes the demands are erroneous and not sustainable as they pertain to an SEZ unit for which GST is not applicable. • The company will submit its response within the prescribed timelines. • The financial implication, if any, is expected to be insignificant and not have a material impact on the company's financial position. Impact: Neutral (Procedural notice with no immediate financial impact; company confident of favorable outcome)
Thirumalai Chemicals Ltd
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