30-Sep-2026      17:34

Prince Pipes receives notice from Rajasthan tax department regarding Rs 2.74 crore discrepancies

Prince Pipes and Fittings Limited has received a Show Cause cum Demand Notice dated September 29, 2026, from the Office of the Deputy Commissioner, State Goods & Service taxes Department, Government of Rajasthan, Jaipur, pertaining to financial year 2022-23. The notice, issued under Section 73 of the CGST/RGST Act, 2017, alleges discrepancies in outward tax declared in E-way Bills compared to GSTR3B and excess Input Tax Credit (ITC) claimed, totaling Rs 2,74,41,122, comprising Rs 1,52,32,048 in tax, Rs 95,96,190 in interest, and Rs 26,12,884 in penalty. The company maintains the demand is not maintainable, is evaluating the matter, and anticipates no significant financial, operational, or other impact.

News source: Capital Market - Live News