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Eureka Forbes Faces ₹273 Crore GST Demand from UP Tax Authority
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CNBC TV18•28-09-2026, 18:48
Eureka Forbes Faces ₹273 Crore GST Demand from UP Tax Authority
- •Eureka Forbes received a show-cause notice from the Uttar Pradesh GST authority proposing a demand of ₹273.40 crore for FY2022-23.
- •The notice alleges a tax liability of ₹149.21 crore, with an additional ₹109.27 crore in interest and ₹14.92 crore in penalty.
- •The company believes the demand is based on pan-India financial information without establishing transaction-level liability specific to its Uttar Pradesh GST registration.
- •Eureka Forbes plans to contest the notice, stating it is
- •devoid of merits and is not sustainable on facts, law or procedure.
- •The company does not anticipate any material impact on its financials or operations from this notice.
Key Questions Answered
Eureka Forbes received a show-cause notice proposing a ₹273.40 crore demand for the financial year 2022-23. The notice alleges a tax liability of ₹149.21 crore, along with ₹109.27 crore in interest and ₹14.92 crore in penalty.
Eureka Forbes considers the notice devoid of merits and not sustainable on facts, law, or procedure. The company intends to contest the notice comprehensively within the prescribed timelines.
The show-cause notice was issued by the Deputy Commissioner, State Tax, Sector-1, Lucknow, Uttar Pradesh, under Section 73(1) of the Uttar Pradesh Goods and Services Tax Act, 2017.
