Shobh Ltd : to contest ₹297.59 Million tax demand

SOBHA Limited has formally disclosed under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, that it received an appellate order from the Commissioner (Appeals) of Central Tax, Central Excise and Revenue, Kochi. The order stems from an appeal filed by the Assistant Commissioner, Central Tax & Central Excise, Thrissur, challenging a prior adjudication order that had been ruled in SOBHA Limited's favor. Key Highlights & Case Details Core Issue: The dispute pertains to valuation methodology concerning the supply of capital goods to distinct persons under Section 107 of the CGST Act. Financial Demand: The order details a demand for tax amounting to ₹297.59 million, alongside applicable interest and statutory penalties. Payment Timeline: The statutory due date for payment is specified as 90 days from the receipt of the order (October 23, 2026). Legal Strategy : SOBHA Limited is preparing to file an appeal before the Goods and Services Tax Appellate Tribunal (GSTAT) within the mandated timelines, citing strong factual and legal grounds to substantiate its position. Company Statement on Financial & Operational Impact The company confirmed that the order has no impact on its day-to-day operations or other business activities. SOBHA Limited is currently in the process of evaluating the precise financial statement implications while pursuing legal remedies before GSTAT.