Stanley Lifestyles Limited Discloses Order Regarding Tax Liability
Stanley Lifestyles Limited announced the receipt of a final order from the Deputy Commissioner of Commercial Taxes in Bengaluru, Karnataka, concerning M/s. Stanley OEM Sofas Limited. The order, dated April 2, 2026, relates to proceedings initiated under Section 73(6) of the Central Goods and Services Tax Act, 2017 and the Karnataka Goods and Services Tax Act, 2017.The order follows the issuance of Form GST DRC-01A proposing a tax liability for the financial year 2022-23. The company submitted a detailed reply within the stipulated timeframe. Adjudication proceedings were subsequently initiated based on audit findings, culminating in the assessment being closed as of the current date.
The company stated that the impact of the order on its financial, operational, or other activities is not significant.
Details of the Order
The key details of the order are summarized below:
| Particulars | Description |
|---|---|
| Name of the authority | Deputy Commissioner of Commercial Taxes. |
| Nature and details of the action(s) taken, initiated or order(s) passed | Form GST DRC-01A was issued proposing a tax liability for FY 2022-23, to which the Company submitted a detailed reply within the prescribed timelines. Subsequently, a final order / proceeding under Section 73(6) of the CGST/KGST Act, 2017 has been issued pursuant to adjudication proceedings initiated based on audit findings, and the assessment proceedings stand closed as on date. |
| Date of receipt of direction or order | April 2, 2026. |
| Details of the violation(s)/contravention(s) committed or alleged to be committed | Alleged tax liability under Section 73(6) of the CGST/KGST Act for the financial year 2022-23. |
| Impact on financial, operation or other activities | Not significant. |
Sunil Suresh, Chairman and Managing Director, disclosed the information.
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