Amber Enterprises discloses GST show cause notice, INR 2.16m penalty

Amber Enterprises India (BSE: 540902, NSE: AMBER) announced today that it has received a show cause notice (SCN) from the GST Department of Uttarakhand on April 8, 2025. The SCN, issued in the form of DRC-01, stems from discrepancies found between entries in the company's E-Way Bill and its Bill of Entry Summary. The department has imposed a penalty of INR 2,158,012. While the company plans to deposit the penalty amount under protest to secure the release of detained goods, it intends to appeal the decision to seek a refund of the penalty. The disclosure, made under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, highlights the potential impact on the company's financial operations.