DEE Development Engineers Limited — Important, 27-11-2024: Updates

A Demand cum Show Cause notice has been issued to DEE Development Engineers Limited by the Assistant Commissioner of the Central Goods and Services Tax Commissionerate, citing discrepancies regarding the cancellation of GST registrations for vendors during the financial year 2020-21. The notice involves a demand of Rs. 5.45 lakh. The company identified potential ineligible Input Tax Credit (ITC) linked to suppliers who did not file their GSTR-3B returns or had their GST registrations cancelled retrospectively. DEE Development Engineers plans to respond to the authorities appropriately. This situation presents a potential risk to the company's financial position, warranting close monitoring.