SBI Cards and Payment Services Limited — Others, 01-07-2025: Pendency of Litigation(s)/dispute(s) or the outcome impacting the Company

SBI Cards and Payment Services Ltd. has announced a Show Cause Notice from the Additional Commissioner of CGST Gurugram proposing to disallow Input Tax Credit (ITC) totaling approximately Rs. 81.93 Cr for the period 2018-21, citing mismatches in tax filings and supplies from cancelled GST registrations. The notice demands recovery of the disputed ITC, interest, and penalties. The company maintains that the ITC was claimed correctly under GST laws and expects to prevail in this matter. There are no immediate financial liabilities recognized from this notice.