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Latest filing: 2026-10-01 18:22
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2 announcements match the current filters (relevance ≥ 5).
Rithwik Facility Receives ₹8.41 Cr GST Show Cause Notice for FY 2023-24
Rithwik Facility Management Services has received a Show Cause Notice under Section 73 of the TNGST/CGST Act, 2017, from the Assistant Commissioner (ST), Guindy Assessment Circle on October 1, 2026. The notice pertains to FY 2023-24 regarding non-GST supplies, ITC non-reversal, and excess/ineligible Input Tax Credit. The potential financial exposure is ₹8.41 crore if confirmed, which is significant compared to the company's net worth of ₹27 crore (approx. 31%). The company stated it holds complete supporting documentation and expects no financial implication.
Confidence: HIGH
What changedGST authorities issued a show-cause notice demanding clarification and proposing tax disallowances for FY 2023-24.
Why it mattersThe ₹8.41 crore potential liability represents ~31% of the company's net worth (₹27 crore), posing a material risk if upheld.
Potential tax implication: Rs.8.41 croresTax period: Financial Year 2023-24Potential exposure vs Net Worth: ~31.1%
📅 Short termStock may react with cautious sentiment as the company prepares its submissions and documentation to contest the ₹8.41 crore demand.
📈 Long termLimited operational disruption unless the tax demand is confirmed, which would deplete liquid reserves and significantly impact the balance sheet.
⚠ Risk flags
- High potential liability of ₹8.41 crore relative to net worth (₹27 crore)
- Regulatory and litigation risk surrounding input tax credit disallowance
Key Highlights
Received Show Cause Notice under section 73 of TNGST/CGST Act on October 1, 2026
Applicable period is Financial Year 2023-24
Potential financial implication stands at ₹8.41 crores if confirmed by authorities
Issues pertain to non-GST supplies, ITC non-reversal, and ineligible ITC claims
No penalty or operational restrictions currently imposed
👀 What to Watch
Track company replies and adjudication orders from the Guindy Assessment Circle regarding the ₹8.41 crore demand to see if any liability crystallizes.
Rithwik Facility Management Fixes Sep 23, 2026 Record Date for 10% Dividend (₹1/Share)
Rithwik Facility Management Services has fixed September 23, 2026 as the record date for determining shareholder eligibility for its final dividend for FY2026. The company has recommended a dividend of 10% on face value, amounting to ₹1.00 per equity share. The payment is subject to shareholder approval at the upcoming Annual General Meeting and will be disbursed within 30 days of declaration.
Confidence: HIGH
What changedThe company established September 23, 2026 as the formal record date for its FY26 dividend payout.
Why it mattersConfirms the cash return to shareholders at ₹1 per share, representing a 10% payout on nominal value.
Dividend per share: ₹1.00Dividend percentage: 10%Record date: September 23, 2026Payment timeline: 30 days from declaration
📅 Short termThe stock will trade ex-dividend leading up to the September 23, 2026 record date.
📈 Long termLimited; reflects standard annual capital return policy.
⚠ Risk flags
- Subject to shareholder approval at the Annual General Meeting
Key Highlights
Dividend declared at 10% on face value, translating to ₹1 per equity share
Record date fixed as September 23, 2026 for dividend entitlement
Dividend payment to be completed within 30 days from declaration at the AGM
Applicable for the financial year ended March 31, 2026
👀 What to Watch
Investors seeking to receive the dividend must ensure share ownership before the ex-dividend date prior to September 23, 2026. Watch for AGM voting outcomes regarding the dividend approval.
