Sobha Limited — Others, 30-01-2025: Action(s) taken or orders passed

SOBHA Limited has received an order from the Joint Commissioner of Central Tax and Central Excise related to GST compliance audits for the period from July 2017 to March 2020. The order involves ineligible ITC claims and nonpayment of GST, amounting to a tax liability of Rs. 1.41 crore and a penalty of Rs. 9.35 crore. The company plans to appeal this decision and believes it has strong grounds to contest the claims. While the financial implications are still being assessed, operations remain unaffected. This news may introduce potential risks but also highlights management’s proactive approach to resolve the issue.