JSW Infra Subsidiary Hit with ₹96.58 Cr GST Show Cause Notice: No Material Impact Assured

Notice Details

The Joint Commissioner of GST and Central Excise, Audit-II Commissionerate, Chennai, issued the notice under Section 74(1) of CGST/TNGST Act, 2017, on September 26, 2025. ECTPL must respond within 30 days to explain why the demanded GST, interest, and penalty should not be recovered.
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Key Highlights

• Demand Amount: ₹96.58 crore (₹965.8 million) for tax contraventions over five years.
• ​Period Covered: April 2019 to March 2024, focusing on port services compliance.
• ​Company Stance: "Strong legal and factual grounds" to challenge; no impact on financials, operations, or activities.
• ​Market Reaction: Shares dipped marginally to ₹322.65 on BSE, down 0.06% post announcement.
• ​Next Steps: ECTPL prepares defense; outcome may influence GST norms in infrastructure sector.

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Broader Implications
Industry watchers note this underscores rigorous GST audits in ports, but JSW's confidence limits immediate concerns for investors.
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Sources: Elite Wealth, ScanX Trade, India Infoline, CNBC TV18.