Innova Captab Limited's GST Proceedings Dropped; Demand of ₹ 15,81,37,255.40 Canceled
Innova Captab Limited announced today that proceedings related to a Show Cause cum Demand Notice (SCN) issued under the Central Goods & Services Tax (CGST) Act, 2017, have been dropped by the adjudicating authority. The company confirmed that the matter stands concluded with no resultant liability.The proceedings stemmed from an SCN dated October 15, 2025, which was issued by the Central Goods & Services Tax Commissionerate, Regional Unit, Shimla.
Following the issuance of the notice, Innova Captab Limited submitted its response and supporting documents within the prescribed timelines. After reviewing the submissions and records, the adjudicating authority passed an Order-in-Original No. GEXCOM/ADJN/GST/ADC/2019/2025-ADJ(ADC/JC)-O/O COMMR-CGST-SHIMLA -I/4215522/2026 dated April 14, 2026.
The authority dropped the proceedings, ruling that the matter initially raised in the notice was legally unsustainable.
As a direct consequence of the order, the proposed demand and penal proceedings, amounting to ₹ 15,81,37,255.40, were dropped. Innova Captab Limited stated that the matter is now concluded with no liability on the company.
INNOVACAP Stock Price Movement
Innova Captab Limited shares on Monday slipped by 1.04% to close at ₹694.3. The stock traded on a total volume of 32,474 shares during the session.Source:
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