Max Estates faces ₹2.59 Cr GST demand notice for FY23
REGULATORY
▼ Concern Flagged
MEDIUM RISK
📅 Filed on BSE: 08 Oct 2026, 01:10 PM IST · BSE ID: 5abd4a31-f8aa-44f9-ac4c-7f399eb6c888
View Original BSE Filing (PDF)
💡
In Simple Terms
Max Estates received a tax notice asking for ₹2.59 Crores due to GST filing discrepancies from FY23.
🤖 AI Summary
- Max Estates received GST show cause notice proposing ₹2.59 Crores demand for FY23.
- Notice issued by UP State Tax Dept for GST return/reconciliation matters.
- Demand includes ₹1.35 Crores tax, ₹97.25 Lakhs interest, and ₹26.65 Lakhs penalty.
- The matter is at show cause stage; final impact depends on adjudication proceedings.
🔢 Key Numbers — exact figures from BSE filing, not rounded
Proposed GST demand
₹2.59 Crores
Proposed tax
₹1.35 Crores
Proposed interest
₹97.25 Lakhs
Proposed penalty
₹26.65 Lakhs
🏢 How This Affects the Company
No impact on operations or other activities of the Company at this stage.
The final financial impact, if any, will depend on the outcome of the adjudication proceedings. Proposed demand aggregates to ₹2.59 Crores.
No impact on the operations or other activities of the Company at this stage.
This introduces regulatory risk related to GST compliance and potential financial outflow if the demand is upheld.
👥 What This Means For Shareholders
✅
Action Required
No immediate action is required from shareholders. The company will update on material developments.
👤
Who Is Affected
All shareholders are affected by potential financial liabilities and the company's ongoing legal and compliance efforts.
🔍
Management Signal
Management is actively engaging with regulatory matters and will take necessary actions as per applicable laws.
For information only. Not investment advice. ForgeUp is not SEBI-registered.
👁 Watch List — track these upcoming events
Company's reply to the show cause notice.
Outcome of the GST adjudication proceedings.
Update on any material financial impact from the notice.
MEDIUM RISK
Potential financial demand of ₹2.59 Crores and the ongoing adjudication process.
💡 Investor Takeaway
Max Estates received a ₹2.59 Crores GST show cause notice for FY23, covering ₹1.35 Crores tax, ₹97.25 Lakhs interest, and ₹26.65 Lakhs penalty, with final impact pending adjudication.
⚖️ Strengths & Concerns
⚠️ Concerns
- Show cause notice proposes demand of ₹2.59 Crores for FY23 GST return/reconciliation matters.
- Notice includes tax of ₹1.35 Crores, interest of ₹97.25 Lakhs, and penalty of ₹26.65 Lakhs.
📅 Company Track Record
Previously, Max Estates' subsidiary faced a ₹5.90 Cr GST demand notice for FY23 over input tax credit in July 2026.
Based on publicly available historical data. For context only.
❓ Frequently Asked Questions
What is the total amount proposed in the GST show cause notice to Max Estates?
The show cause notice proposes a demand aggregating to ₹2.59 Crores, comprising tax, interest, and penalty for FY23.
What are the components of the ₹2.59 Crores proposed GST demand?
The demand includes ₹1.35 Crores for tax, ₹97.25 Lakhs for interest, and ₹26.65 Lakhs for penalty.
What is the reason for the GST show cause notice issued to Max Estates?
The notice is primarily in relation to GST return and reconciliation matters for FY23.
Has Max Estates received a final demand order from the tax authorities?
No, the matter is currently at the show cause notice stage and no final demand or order has been passed.
Questions based on this BSE filing only. For information purposes.