Vishal Mega Mart Limited has received a tax demand order from the Additional Commissioner, CGST Commissionerate, Gurugram, alleging excess Input Tax Credit (ITC) claimed during FY 2018–19 to 2022–23. The notice was issued under Section 74 of the CGST Act, 2017.
Tax Demand Breakdown
| Component | Amount (₹) |
| Tax | 6,73,56,857 |
| Interest | 1,12,166 |
| Penalty | 6,73,56,857 |
| Total Demand | 13,48,25,880 |
Company’s Response
Vishal Mega Mart confirmed receiving the order on December 8, 2023, and stated that it is currently reviewing the contents. The company noted that the order does not have any material impact on its operations or business activities.
What It Means
While the financial demand is significant, the company maintains operational stability. Any future impact will depend on how the matter progresses, including potential appeals or clarifications sought by the company.
Summary
Vishal Mega Mart has received a CGST tax demand of ₹13.48 crore for alleged excess ITC claims between 2018–19 and 2022–23. The company is reviewing the order and states that it will not materially affect its operations.
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