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📋 Filing Types Available on ForgeUp Filings Sourced from BSE corporate announcements (equity segment). Companies covered are BSE-listed and most are also listed on NSE. We show only material filings.
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Glottis Ltd

Glottis Ltd receives GST scrutiny notice alleging ₹2.73 crore ITC wrongful claim

REGULATORY ◆ Monitor Closely MEDIUM RISK
📅 Filed on BSE: 22 Apr 2026, 11:53 PM IST  ·  BSE ID: f02e49d6-4656-43b9-8b2a-fe3d7bed9b44
View Original BSE Filing (PDF)
💡
In Simple Terms
The tax department claims Glottis improperly claimed ₹2.73 crore in tax credits for year 2022-23 and is asking the company to justify it.
🤖 AI Summary
  • GST scrutiny notice (Form ASMT-10) received 20 April 2026 for financial year 2022-23
  • Notice alleges wrongful availment and excess ITC utilisation by company
  • Proposed aggregate liability approximately ₹2.73 crore remains subject to adjudication
  • Company examining allegations, will file responses within prescribed legal timelines
  • Management reports no material impact on financial position or operations currently
🔢 Key Numbers - exact figures from BSE filing, not rounded
Proposed aggregate GST liability
₹2.73 crore
Financial year under scrutiny
2022-23
Notice received date
20 April 2026
🏢 How This Affects the Company
💰
Financial Impact
Proposed liability of ₹2.73 crore in FY 2022-23 remains contingent on adjudication outcome. Actual cash outflow and financial statement impact depend on final assessment determination and company's ability to defend claims.
⚠️
Risk Impact
GST assessment risk introduced for FY 2022-23. Company faces regulatory scrutiny and adjudication process. Outcome uncertain until formal determination; potential for penalties and interest beyond principal amount if assessor's position upheld.
👥 What This Means For Shareholders
✅
Action Required
No immediate action required. Shareholders should monitor future quarterly filings and official GST adjudication updates for resolution.
👤
Who Is Affected
All shareholders hold exposure to contingent liability of ₹2.73 crore if GST department's position is upheld in adjudication. Actual shareholder impact depends on company's ability to defend or settle.
🔍
Management Signal
Management's commitment to formal response and adherence to legal procedures indicates defensive posture; no immediate settlement indicated.

For information only. Not investment advice. ForgeUp is not SEBI-registered.

👁 Watch List - track these upcoming events
GST adjudication order publication — confirms final liability determination and appeal status
Q1 FY27 results — check for contingent liability disclosure and provision amount
Company response filing status — track through GST portal or subsequent BSE disclosures
MEDIUM RISK ₹2.73 crore contingent liability unresolved. GST assessment outcome uncertain. Adjudication timeline and penalties unknown. Disclosure delay raises governance concern.
💡 Investor Takeaway
Glottis received GST scrutiny notice proposing ₹2.73 crore liability for FY 2022-23 ITC claims. Matter is under examination; no material financial impact confirmed currently. Adjudication outcome will determine actual exposure and cash impact.
⚖️ Strengths & Concerns

✅ Positives

  • Company disclosed matter under Regulation 30 within required timeframe after resolution of technical disclosure issue.
  • Management states commitment to examining allegations and filing detailed responses within prescribed legal procedures.

⚠️ Concerns

  • Proposed liability of ₹2.73 crore creates contingent financial exposure; adjudication outcome remains uncertain.
  • Disclosure delay attributed to technical issue raises governance and compliance monitoring questions for investor confidence.
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⚠️ For Information Only - Not Investment Advice
ForgeUp Filings provides AI-generated summaries of public BSE exchange announcements (equity segment) for informational purposes only. Nothing here constitutes investment advice or a recommendation to buy, sell, or hold any security. ForgeUp is not a SEBI-registered investment advisor. All financial numbers are sourced directly from BSE filings and shown as-is. Past data is historical only. Please consult a qualified financial advisor before making investment decisions. Data sourced from BSE India public disclosures.
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