Mayur Uniquoters Limited Receives A Show Cause Notice from the Goods and Service Tax Authority
June 21, 2024 at 11:24 am
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Mayur Uniquoters Limited informed that, the Company has received a Show Cause Notice (SCN) from the Goods and Service Tax (GST) Authority. Name of the Authority; Office of the Superintendent, Central Goods & Service Tax, Range VII, Division B, Jaipur. Nature and details of the action(s)
taken, initiated or order(s) passed; Issuance of Show Cause Notice by the Superintendent, Central Goods & Service Tax, Range VII, Division B, Jaipur raising demand of IGST amounting to INR 1,00,134/- in contravention of Section 9 & 49(8) of CGST Act, 2017 during the Fiscal Year 2018-19 which is recoverable under Section 74 of CGST Act, 2017 read with corresponding provisions of IGST Act, along with applicable interest and penalty. Date of receipt of direction or order, including any ad-interim or interim orders, or any other communication from the authority; Show Cause Notice dated June 17, 2024 was received on June 21, 2024 by the Company. Details of the violation(s)/contravention(s) committed or alleged to be committed; Issuance of Show Cause Notice by the Superintendent, Central Goods & Service Tax, Range VII, Division B, Jaipur raising demand of IGST amounting to INR
100134/- in contravention of Section 9 & 49(8) of CGST Act, 2017 during the Fiscal Year 2018-19 which is recoverable under Section 74 of CGST Act, 2017 read with corresponding provisions of IGST Act, along with applicable interest and penalty. The Company is extracting the details and assessing with legal counsel for the filing response to the authority. Impact on financial, operation or other activities of the listed entity, quantifiable in monetary terms to the extent possible; There is no material impact on financials, operations or other activities of the Company due to the show cause notice issued by the GST Department.
Mayur Uniquoters Limited is an India-based manufacturer of artificial leather. The Company is engaged in the business of manufacturing of coated textile fabrics, artificial leather and polyvinyl chloride (PVC) vinyl, which are widely used in different segments such as footwear, furnishings, automotive original equipment manufacturer, automotive replacement market, and automotive exports. It operates through a single segment, manufacturing and sale of PU/PVC Synthetic Leather. Its products include automotive, footwear, furnishing, and leather goods and garments. It offers a range of leather for the automotive industry, which is used in various parts, including seats, door trims, steering wheel covers, gear boot and knob covers, roof lining, sun visors and hoods. It offers products for various parts of footwear, such as shoe uppers, shoe lining and insoles. These products find application in formal shoe and boots, sports shoes, sandals, slippers as well as high end womenâs footwear.