Le Travenues Technology Limited has been served an order by the State Tax authority, demanding ₹99,82,243 related to the FY 2019-20 period. This demand stems from the alleged excess availment of Input Tax Credit (ITC). The total includes tax, interest, and a penalty, with the penalty component amounting to ₹31,04,778. The Company maintains a strong case on merits and intends to file the requisite appeal within the prescribed time frame to contest the decision.
Receipt of Tax Authority Order
Le Travenues Technology Limited announced the receipt of an order dated March 26, 2026, from the Office of Deputy Commissioner of State Tax (SGST) Gurugram (East). This order was issued under Section 74 of the CGST/SGST Act, 2017, read with Section 20 of the IGST Act, 2017, following a previous Show Cause Notice.
Summary of Material Contents
The communication centers on the alleged excess availment of Input Tax Credit (ITC) specifically for the financial year FY 2019-20. The authority has raised a total demand amounting to ₹99,82,243. This demand is broken down as follows:
- Tax Demand: ₹31,04,778
- Interest Charged: ₹37,72,687
- Penalty Imposed: ₹31,04,778
The company explicitly notes that the specific penalty or restriction imposed pursuant to this communication is ₹31,04,778.
Company Stance and Intended Action
The management holds the belief that it possesses a strong case based on merits to contest this order. Consequently, the Company has confirmed its plan to file the requisite appeal with the appropriate authorities within the legally prescribed time limit to challenge the determination.
Financial Implications
The Company assesses that there will be Nil financial implications resulting directly from this demand, provided the appeal is successful. Any financial impact will be limited only to the legal and other associated expenses incurred in the process of contesting the matter.
Source: BSE
