Sobha Limited — Others, 06-02-2025: Action(s) taken or orders passed

SOBHA Limited has received an order from the Additional Commissioner of Central Tax and Central Excise regarding GST audit discrepancies from July 2017 to March 2022. The order cites issues including ineligible ITC, GST on subsidiary services, and late issuance of credit notes, totaling a tax amount of ₹32.51 crore and a penalty of ₹33.05 crore. The company plans to appeal this order, asserting it has strong legal grounds. While the financial impact is being assessed, the company anticipates no operational disruption. Investors may view this as a potential risk but remain optimistic due to the appeal process.