Innovision Ltd secures favorable GST order, penalty reduced to Rs.10,000
Innovision Limited has received a favorable order from the tax authorities, significantly reducing a penalty related to GST compliance. The Additional Commissioner, Central Goods & Service Tax Commissionerate, Dehradun, modified the separate record-keeping penalty under Section 122(1)(xvi) of the Central Goods and Services Tax Act, 2017 (“CGST Act”) and the UKGST Act to a fixed amount of Rs.10,000. The company received the order on August 11, 2026, concluding a dispute initiated by an order dated March 20, 2026, which Innovision received on March 30, 2026.
The resolution eliminates significant potential liabilities that had been cited during the proceedings. According to the filing, the original dispute involved tax payable amounts of Rs.15,70,378 under CGST and an equal amount under SGST for FY 2019-20, with associated penalties of Rs.31,40,756 each. For FY 2023-24, the cited tax payable was Rs.3,33,98,202 under each head, with penalties of Rs.6,67,96,404 each. The total liability referenced in the dispute stood at Rs.94,22,268 for FY 2019-20 and Rs.20,03,89,212 for FY 2023-24 under both CGST and SGST heads. The final order reduced the specific record-keeping penalty to Rs.10,000.
The company disclosed the development under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The intimation was submitted to the Listing Departments of BSE Limited and National Stock Exchange of India Limited on August 12, 2026. The disclosure aligns with Clause 20 of Para A of Part A of Schedule III of the LODR Regulations, read with SEBI Circular No: SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated July 13, 2023, and SEBI Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024.
| Particulars | Details |
|---|---|
| Authority | Additional Commissioner, Central Goods & Service Tax Commissionerate, Dehradun |
| Order Date | March 20, 2026 |
| Receipt Date | August 11, 2026 |
| Penalty Reduced To | Rs.10,000 |
| Litigation Status | Decided in Favour of Innovision Limited |
Innovision Limited further addressed the pendency of litigation requirements under Clause 8 of Para B of Part A of Schedule III of the LODR Regulations. This disclosure was made in accordance with Clause 8.1 of the SEBI circular dated January 30, 2026. Based on the company’s assessment, prevailing laws, and advice from counsel, management determined that the outcome of the litigations is not reasonably expected to have any material financial impact on the listed entity. The details were provided as required under Clause 8 of Para A of Part A of Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, read with SEBI Circular No: SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated July 13, 2023, and SEBI Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026.
The dispute originated from issues raised by the GST Department regarding filed GSTR returns for the relevant periods. The final status of the litigation is recorded as "Decided in Favour of the Appellant Company-Innovision Limited," superseding the previous status of "Set Aside." There are no adverse financial implications on the company arising from this order.
