Navneet Education Receives GST Audit Report Noting Aggregate Tax Short Payment of ₹13.77 Lakh
Navneet Education Limited has received an audit report regarding Goods and Services Tax (GST) for the financial years 2020-21 to 2023-24, which includes findings related to a short payment of tax.The company received Form GST ADT-02, an Audit Report issued under Section 65(6) of the Central Goods and Services Tax Act, 2017. The report was provided by the Office of the Assistant Commissioner, Central Tax (Audit), Audit Circle, Patna, on August 18, 2026.
The audit report focused on the examination of the company's books of account, records, and GST returns for the specified four-year period. During this review, an aggregate short payment of tax was identified, amounting to ₹13,77,562. This liability is broken down across different tax components:
| Tax Component | Amount (₹) |
|---|---|
| IGST | 4,94,816 |
| CGST | 4,41,373 |
| SGST | 4,41,373 |
The report also indicated a late fee of ₹400, which is split between CGST (₹200) and SGST (₹200). Furthermore, the audit notes that applicable interest must be quantified upon depositing the required tax amount, and any penalty, where applicable, is also to be quantified after such deposit.
Regarding the impact of the findings, the company stated that the presently quantified tax liability of ₹13,77,562 excludes both the applicable interest and potential penalties, which are yet to be determined. Navneet Education Limited confirmed that it is examining the observations contained within the Audit Report and intends to take appropriate steps in accordance with the law. Management added that they do not expect any material impact on their operations as a result of the GST Audit Report.
NAVNETEDUL Stock Price Movement
Shares of Navneet Education Limited today slipped by 0.68% to settle at ₹133.88 in post-market trading. The equity saw activity on a volume of 172,720 shares, trading within a daily range of ₹132 and ₹136.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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