Prestige Estates Subsidiary Hit with ₹154 Crore GST Show Cause Notice

The subsidiary of Prestige Estates Projects Ltd., a major South Indian real estate developer, has received a massive show cause notice (SCN) from the Directorate General of GST Intelligence (DGGI).

Key Details of the Demand

Company Affected: Prestige Projects Private Limited (PPPL), a wholly-owned subsidiary of Prestige Estates Projects Ltd.
Issuing Authority: The Directorate General of GST Intelligence (DGGI).
Total Amount Demanded: The SCN proposes a tax demand, interest, and penalty totaling approximately ₹154.54 crore.
Allegation: The notice is related to alleged issues under the Goods and Services Tax (GST) Act.
Company’s Next Steps: Prestige Estates stated that it is currently analyzing the SCN and plans to file a comprehensive reply to the DGGI within the stipulated time. The company intends to take appropriate legal steps against the proposed demand.

Source :- CNBC TV 18