Diligent Media Corporation Ltd
Show Cause Cum Demand Notice under GST
REGULATORY
▼ Concern Flagged
MEDIUM RISK
📅 Filed on BSE: 01 Sep 2026, 02:26 PM IST · BSE ID: 7009a7db-4435-4c6b-bbd7-1c33a12e8efe
View Original BSE Filing (PDF)
💡
In Simple Terms
The company received a tax notice demanding Rs. 1.08 crore for input tax credits, as the supplier's registration was cancelled.
🤖 AI Summary
- Diligent Media received a GST Show Cause Notice for Rs. 1,08,00,000.
- Notice pertains to Input Tax Credit availed for FY 2021-22.
- Reason cited: Vendor's GST registration cancelled ab initio.
- Additional tax demand of Rs. 4,90,164 for FY 2020-21 raised.
- Company seeks legal advice to challenge the demand.
🔢 Key Numbers — exact figures from BSE filing, not rounded
Input Tax Credit under dispute
Rs. 1,08,00,000
Additional tax demand for FY 2020-21
Rs. 4,90,164
🏢 How This Affects the Company
A potential financial outflow of Rs. 1,08,00,000 plus Rs. 4,90,164, along with applicable interest and penalty, is being assessed by the tax authorities.
The company faces increased tax litigation risk and potential financial strain if the demand is upheld, requiring the company to seek legal recourse.
👥 What This Means For Shareholders
✅
Action Required
No immediate action is required by shareholders. Monitor company disclosures for updates on legal proceedings.
👤
Who Is Affected
All shareholders are affected by potential financial liabilities that could impact the company's profitability and cash flow.
🔍
Management Signal
Management is actively seeking legal counsel and intends to challenge the demand, indicating a proactive stance in mitigating potential financial impact.
For information only. Not investment advice. ForgeUp is not SEBI-registered.
👁 Watch List — track these upcoming events
Company's legal response to the GST notice.
Outcome of any appellate authority hearings.
Updates on interest and penalty amounts.
MEDIUM RISK
Significant tax demand and potential penalties introduce financial and legal risks.
💡 Investor Takeaway
Diligent Media Corporation faces a GST demand of Rs. 1,08,00,000 for FY 2021-22 and Rs. 4,90,164 for FY 2020-21, with interest and penalty, due to a vendor's cancelled registration.
⚖️ Strengths & Concerns
⚠️ Concerns
- Show Cause Notice issued for Rs. 1,08,00,000 ITC disallowed due to vendor's cancelled registration.
- Additional Rs. 4,90,164 tax demand for FY 2020-21 and potential penalties/interest.
📅 Company Track Record
Diligent Media Corporation previously faced a Rs. 3.99 crores GST demand order for FY 2019-20 related to property transfer treatment.
Based on publicly available historical data. For context only.
❓ Frequently Asked Questions
What is the total GST demand raised against Diligent Media Corporation?
The company received a Show Cause Notice for Rs. 1,08,00,000 towards Input Tax Credit for FY 2021-22 and an additional demand of Rs. 4,90,164 for FY 2020-21.
What is the reason for the GST demand?
The demand relates to Input Tax Credit availed by the company for business transactions with a vendor whose GST registration was cancelled ab initio.
What tax periods are covered by the GST notice?
The notice covers Input Tax Credit for FY 2021-22 and short-payment of outward tax liability for FY 2020-21.
What action is Diligent Media Corporation taking regarding the GST notice?
The company is seeking appropriate legal advice and intends to challenge the proposed demand before the appropriate appellate authority.
Questions based on this BSE filing only. For information purposes.