Praveg Ltd GST Dispute Concluded As Tax Liability Is Found To Be Nil
Praveg Ltd has concluded the ongoing tax dispute initiated by the Office of the Assistant Commissioner, Division-III, Daman, Vadodara Commissionerate, CBIC, concerning allegations under the Central Goods and Services Tax Act, 2017. The proceedings were disposed of following an order issued on June 3, 2026.The dispute originated from a Show Cause Notice issued on July 31, 2025, alleging wrongful availment of Input Tax Credit (ITC) related to the construction of immovable property, specifically concerning blocked credit under Section 17(5) of the CGST Act, 2017.
Previously, Praveg Ltd had disclosed a potential financial implication related to this matter amounting up to Rs. 2,46,55,446/-. The opposing party in the dispute is identified as the Office of the Assistant Commissioner, Division-III, Daman, Vadodara Commissionerate, CBIC.
The current status confirms that the proceedings initiated under Sections 74 and 122 of the Central Goods and Services Tax Act, 2017, have been concluded by the Assistant Commissioner, Division-III, Daman, Vadodara Commissionerate, CBIC.
As a result of the order dated June 3, 2026, no tax demand, interest, penalty, or any other liability was imposed on Praveg Limited. The financial implication arising from this matter has been determined to be Nil, and the case stands disposed of.
Key details regarding the litigation are summarized below:
| Particulars | Details |
|---|---|
| Opposing Party Name | Office of the Assistant Commissioner, Division-III, Daman, Vadodara Commissionerate, CBIC |
| Dispute Initiation Date | July 31, 2025 |
| Previous Status Allegation | Wrongful availment of Input Tax Credit relating to construction of immovable property. Potential financial implication up to Rs. 2,46,55,446/-. |
| Current Litigation Status | Proceedings concluded by the Office of the Assistant Commissioner on June 03, 2026. No tax demand or liability imposed; proceedings disposed of with Nil financial implication. |
PRAVEG Stock Price Movement
On Wednesday, shares of Praveg Limited slipped sharply, settling at ₹231.65 after shedding 4.14% from previous closing levels. This steep decline saw the equity tumble to its 52-week low, amidst heavy trading activity that accounted for 65,714 shares.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.
The information provided is for general informational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any securities. Readers are advised to rely on their own assessment and judgment and consult appropriate financial advisers, if required, before taking any investment-related decisions.
Any views, opinions, or statements expressed, where applicable, are those of the respective analysts or experts and do not reflect the views of this website. The website has no association with such viewpoints and does not assume any responsibility for them.