Veer Global in the Tax Spotlight: Key GST Demand Raises Eyebrows and Stakes

Updated: October 01, 2025 22:28

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Veer Global Infraconstruction has recently received a Show Cause Notice dated September 30, 2025, from the Office of the Commissioner of Central GST, Palghar Commissionerate, under the CGST Act, 2017. This notice entails a substantial tax demand of ₹22.12 crore along with applicable interest and penalties related to alleged GST compliance issues spanning financial years 2019-20 through 2024-25.

Key Highlights of the Notice

Notice issued under Section 74 of the CGST Act, 2017, demanding tax, interest, and penalty.
Allegations include short-payment of GST, excess input tax credit (ITC) availed, non-reversal of ITC, and non-payment of cash liability through cash ledger.
The demand covers a long assessment period from FY 2019-20 to FY 2024-25 with multiple compliance contraventions.
The Company received the notice on September 30, 2025, and has committed to filing a detailed reply backed with comprehensive facts and evidence to substantiate its tax position.
Veer Global believes it has adequate legal grounds to contest the claims reasonably.
Financial exposure includes tax demand of ₹22.12 crore with additional interest and penalties as applicable if the outcome is adverse.

Company's Response and Implications

Veer Global Infraconstruction will respond within prescribed timelines to the GST authority with detailed justifications, aiming to clarify and resolve the issues. While the notice signals a significant regulatory scrutiny, the company’s confidence in its legal position suggests prospects of defense against the demand. However, an adverse ruling could impact the company financially by the specified amounts in tax dues, interest, and penalties.

This regulatory development is disclosed in compliance with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, reflecting Veer Global’s transparency towards investors and stakeholders.

Source: Veer Global Infraconstruction Announcement

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