Prudent Corporate Advisory Services Receives GST Notice Regarding Input Tax Credit
Prudent Corporate Advisory Services Ltd. has received a notice from the Directorate General of Goods & Service Tax Intelligence (DGGI), Zonal Unit, Ahmedabad, Gujarat. The notice concerns alleged contraventions related to the availment of input tax credit.The notice, identified as Form GST DRC - 01 issued under Section 74 of the CGST/SGST/IGST Act 2017, covers the financial years 2021-22 and 2022-23. The notice was received on April 21, 2026.
According to the details, the core allegation centers on the purported availment of certain ineligible input tax credit, which is claimed to be in contravention of the provisions of Section 16(i) of the CGST Act read with Section 17(2) and (3) of the CGST/SGST/IGST Act 2017.
The notice indicates a tax amount totaling Rs. 33,771.661,887.75 for the specified periods.
Key details regarding the notice and the tax period are summarized below:
| Detail | Information |
|---|---|
| Authority | Directorate General of Goods & Service Tax Intelligence (DGGI), Zonal Unit, Ahmedabad, Gujarat |
| Notice Form/Section | Form GST DRC - 01 issued u/s 74 of the CGST/SGST/IGST Act 2017 |
| Financial Years Covered | FY 2021-22 and FY 2022-23 |
| Allegation | Availment of ineligible input tax credit contrary to Section 16(i) and Section 17(2) & (3) of the CGST/SGST/IGST Act 2017 |
| Tax Amount Cited | Rs. 33,771.661,887.75 |
| Date of Receipt | April 21, 2026 |
The company stated that it is currently reviewing the notice and will respond appropriately within the prescribed timelines. Prudent Corporate Advisory Services Ltd. indicated that it does not foresee any material impact on the company's financial, operational, or other activities.
PRUDENT Stock Price Movement
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