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IRFC Slapped with ₹397 Crore GST Show-Cause Notice by Bihar Tax Authority
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CNBC TV18•30-09-2026, 17:25
IRFC Slapped with ₹397 Crore GST Show-Cause Notice by Bihar Tax Authority
- •Indian Railway Finance Corporation (IRFC) received a ₹396.91 crore show-cause notice from Bihar tax authorities regarding Goods and Services Tax (GST) matters for FY23.
- •The notice, issued by the Office of the Joint Commissioner of State Tax, Hajipur Circle, Hajipur, includes applicable interest and penalty.
- •IRFC received the notice on September 29 under Section 73 of the Bihar Goods and Services Tax (BGST) and Central Goods and Services Tax (CGST) Act, 2017, covering the period from April 2022 to March 2023.
- •IRFC stated that the issues are generic, and the company is evaluating them, consulting tax advisors, and plans to file a detailed response within the prescribed timeline, pursuing all legal remedies.
- •The company clarified that no penalty, restriction, or sanction has been imposed yet, as the matter is still at the show-cause notice stage, and the actual financial impact cannot be determined until an order is passed.
Key Questions Answered
IRFC received a ₹396.91 crore show-cause notice from the Office of the Joint Commissioner of State Tax in Bihar regarding Goods and Services Tax matters for the financial year 2023, covering the period from April 2022 to March 2023.
IRFC stated that the issues raised are generic in nature and is currently evaluating them with its tax advisors. The company plans to file a detailed response with the adjudicating authority within the prescribed timeline and pursue all available legal remedies.
Because the matter is still at the show-cause notice stage and no final order has been issued, the actual financial impact cannot be determined yet. IRFC clarified that no penalty, restriction, or sanction has been imposed so far.
