Nesco Limited Receives Show Cause Cum Demand Notice from the Above GST Authority from the Office of the Assistant Commissioner CGST and C. Ex, Division VII, Mumbai East

Nesco Limited In compliance with Regulation 30 of the Listing Regulations read with SEBI Circular no. SEBI/HO/CFD/CFDPoD-1/P/CIR/2023/123 dated July 13, 2023, announced the Company has received a Show Cause cum Demand Notice (SCN) from the above GST authority for GST liability of INR 2.089 Million and applicable interest/penalty under applicable provisions of the SGST/CGST/IGST Act, 2017 from the Office of the Assistant Commissioner CGST and C. Ex, Division VII, Mumbai East. The Company has received a copy of the SCN from the GST Authority through email dated May 31, 2024.

The said SCN mentions that the company has incorrectly availed input tax credit of invoice issued by supplier who has not filed GSTR 3B Return for the financial year 2019-2020. As per details the SCN has no material impact on the financial, operation and other activities.