GST Show Cause Notices Issued to Lakshmi Electrical Control Systems Ltd for Financial Years 2022-2023 and 2023-2024
Lakshmi Electrical Control Systems Limited has received two separate Show Cause Notices from the Office of the Assistant Commissioner, GST, concerning compliance matters for consecutive financial years. The notices pertain to short payment of tax under RCM and other non-compliances.The company is currently working on filing replies and explanations required to substantiate its case regarding these demands.
Details of the First Show Cause Notice (Financial Year 2022-2023)
The first communication, received on May 7, 2026, pertains to the Financial Year 2022-2023 and involves a demand from GST Authorities totaling Rs. 1,56,88,534/-.Key details of the notice are summarized below:
| Particulars | Details |
|---|---|
| Date of receipt | May 7, 2026 |
| Authority | Office of the Assistant Commissioner, GST |
| Demand Amount | Rs. 1,56,88,534/- |
| Composition of Demand | Tax: Rs.1,41,40,145/-; Cess: Rs. 2,922/-; Interest: Rs. 1,11,452/-; Penalty: Rs. 14,34,015/- |
| Alleged Non-Compliances | Short payment of tax under RCM, Proof for Exempted I Nil rated I Non-GST supplies, ITC reversals, and Documentary Proof for Credit Notes |
| Financial Impact | There is no material impact on the financials, operations or other activities of the Company. |
Second Show Cause Notice (Financial Year 2023-2024)
A second Show Cause Notice, also received on May 7, 2026, relates to the Financial Year 2023-2024. This notice includes a demand from GST Authorities totaling Rs. 3,92,93,425/-.The material details regarding this second communication are as follows:
| Particulars | Details |
|---|---|
| Date of receipt | May 7, 2026 |
| Authority | Office of the Assistant Commissioner, GST |
| Demand Amount | Rs. 3,92,93,425/- |
| Composition of Demand | Tax: Rs.3,57,21,295/-; Penalty: Rs. 35,72,130/- |
| Alleged Non-Compliances | Short payment of tax under RCM, Proof for Exempted I Nil rated/Non-GST supplies, Details of Turnover reported in GSTR Forms, ITC reversals, and Documentary Proof for Credit Notes & ITC Claimed |
| Financial Impact | The Company stated that there is no material impact on the financials, operations or other activities. |
Operational Status
In response to both notices, Lakshmi Electrical Control Systems Limited has indicated that it is in the process of filing the necessary reply and explanations to substantiate its case. The company also clarified that the delay in intimation was due to the notice being delivered to the spam folder of its email account, which was retrieved on June 2, 2026.Stock Price Movement
As of 12:02, shares in Lakshmi Electrical Control Systems Ltd are edging higher at ₹754.00, posting a gain of 0.40%. This movement reflects the stock trading within an intraday range that spanned from a low of ₹750.50 to a high of ₹764.75.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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