NEW DELHI: The joint commissioner of state tax, Mazgaon, Mumbai has directed HDFC Bank and ICICI Bank to provisionally attach the operative bank account of Awfis Space Solutions held in these banks, the company informed in a BSE filing.
This is in relation to the violation of excess input tax credit (ITC) of Rs 4.42 crore, which the company claimed in GSTR – 3B, which is beyond the available ITC in GSTR – 2B of October, 2024.
“The above stated amount of ITC was initially availed and reversed in GSTR-3B of FY 2023-24 and subsequently, the same was reclaimed in GSTR-3B of October 2024 pursuant to the decision tendered by the Supreme Court in the case of Safari Retreats (2024 VIL 45 SC). Furthermore, owing to the amendments introduced under Section 17(5)(d) of CGST Act, 2017 vide Finance Bill 2025, the company management has decided to reverse the above
amount of ITC. The said reversal will result in resolution of the issue as identified by concerned order in GST DRC-22. Therefore there will be no financial impact on the entity in relation to the said order,” the company said in the regulatory filing.
ETRealty has reached out to the company and will update the story depending on the response.
In a separate regulatory filing, the board of directors approved grant of 1,44,382 employee stock options convertible into equal number of equity shares of the company of face value of Rs 10 each, under the Awfis Space Solutions Employee Stock Option Scheme – 2024.
