Awfis Space Solutions Receives Show Cause Notice Over FY22-23 Return Discrepancies
Awfis Space Solutions Ltd has received a Show Cause Notice regarding discrepancies identified in the filed return statement for Financial Year 2022-23. The notice was issued by the Commercial Tax Officer, Nungabakkam, Central-III, Chennai Central, Tamil Nadu, dated May 23, 2026.The dispute relates to various discrepancies noted in the company's filing (DRC-01).
Financial Implications and Company Response
As per the calculations presented in the Show Cause Notice, a demand of approximately INR 7.10 Crores, inclusive of interest and penalty, is being sought from Awfis Space Solutions Ltd.The company confirmed that it is currently conducting a thorough review of the notice. During this internal verification process, an apparent discrepancy—specifically a material calculation error in the demand amount specified by the issuing authority—was identified. Consequently, the management has initiated steps to seek clarification from the concerned GST authority to ascertain the correct demand amount and ensure accurate information is established.
While examining the notice, Awfis Space Solutions Ltd indicated that it does not currently envisage any relevant impact on the company's financial standing, operations, or other activities.
Dispute Resolution Process
The delay in finalizing the matter was attributed to the preliminary review process undertaken by the company following receipt of the Show Cause Notice. The management noted that the additional time taken for verification and evaluation was necessary due to the identified apparent discrepancy in the demand amount specified in the notice.Awfis Space Solutions Ltd is actively engaging with its consultant and relevant authorities to resolve the discrepancies outlined in the SCN.
AWFIS Stock Price Movement
Awfis Space Solutions Limited shares settled today after slipping 0.69% to close at ₹308.95. The stock traded within an intraday range of ₹303.25 and ₹313.35, with a volume of 419,598 shares recorded.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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