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1Fix the driver behind crashes, sound loss and screen glitches2Clear out junk files and repair common Windows errors3Scan for outdated or missing drivers - takes under a minuteIndian Railway Finance Corporation (IRFC) has received a Bihar GST show-cause notice indicating ₹396.91 crore, including applicable interest and penalty. It is not a final tax demand: IRFC said no order had been issued and that it was preparing a response. The notice concerns April 2022 through March 2023, but the specific alleged tax issue has not been reported.
What does the Bihar GST notice say?
CNBC TV18, reporting details from IRFC’s exchange filing, said the company received the notice on September 29, 2026, from the Office of the Joint Commissioner of State Tax, Hajipur Circle, Hajipur. The notice concerns the period April 2022 through March 2023 and was issued under Section 73 of the Bihar Goods and Services Tax Act and the Central Goods and Services Tax Act, 2017. The filing was reported on September 30; the BSE filing index lists a related IRFC GST show-cause notice disclosure for that date, though the index does not provide the notice’s full particulars.
The notice states an amount of ₹396.91 crore, commonly rounded to ₹397 crore. CNBC TV18 reported that this figure includes applicable interest and penalty. The reported sources do not break out the principal tax from those components.
Does IRFC have to pay ₹396.91 crore?
Not on the basis of the notice alone. A show-cause notice is a procedural step asking the recipient to respond to allegations; it is not itself an adjudication order or proof that the stated amount is finally payable. IRFC said that no order had been issued in this matter. The ₹396.91 crore should therefore be described as the amount indicated in the notice, not as money already paid or a penalty already imposed.
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IRFC also said the financial impact could not then be determined. The available reporting does not establish the authority’s eventual decision or any final liability.
What did IRFC say it would do?
In a company statement relayed by CNBC TV18 on September 30, 2026, IRFC said “the issues raised in the notice are generic in nature.” The company said it was evaluating the notice, consulting its tax advisers and intended to submit a detailed response to the adjudicating authority within the prescribed timeline. It also said it would pursue available legal remedies.
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IRFC stated that no penalty, restriction or sanction had been imposed as a result of the notice. These are the company’s statements about the matter; the underlying allegations and the tax authority’s assessment have not been detailed in the reporting.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.Why did IRFC get a GST notice?
The specific transactions, tax treatment alleged by the authority and calculation behind this Bihar notice have not been established in the available reporting. It would be speculative to attribute the notice to a particular leasing arrangement, tax position or refund claim.
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A free scan shows the junk files, broken settings and background clutter dragging Windows down - then fixes them in one click.Free scan · Windows 10 & 11IRFC’s FY2024–25 annual report discusses other GST matters, including the withdrawal from October 1, 2021, of a GST exemption for leasing rolling stock assets such as wagons, coaches and locomotives to Indian Railways, as well as earlier refund claims and appeals in Delhi. Those disclosures provide historical context only; they do not connect those matters to the separate Bihar notice received in September 2026.
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What is known—and what remains unresolved
- Known: The notice was received September 29, 2026, from Bihar’s Hajipur Circle tax authority; it covers April 2022 to March 2023 and indicates ₹396.91 crore including applicable interest and penalty.
- Known: IRFC said it was evaluating the notice and planned to respond; it said no order, penalty, restriction or sanction had been issued or imposed at that stage.
- Not established in the available reporting: The precise grounds in the notice, the principal tax amount apart from interest and penalty, whether IRFC has since filed its response, the authority’s adjudication, and the eventual financial effect.
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