Liqvid Digital disclosed Rs 10.74 crore in delayed statutory payments

Liqvid Digital disclosed Rs 10.74 crore in delayed statutory payments across six categories and 25 entries from FY17-18 to FY25-26. Goods and services tax, or GST, represented Rs 7.21 crore of the amount, while the longest delay was 2,712 days for Rs 1.48 lakh of professional tax in FY17-18.

What did Liqvid Digital disclose about delayed statutory payments?

Liqvid Digital disclosed delayed payments totalling Rs 10.74 crore across 25 line items covering FY17-18 through FY25-26. The disclosure identifies the amount for which payment was delayed and the range of days delayed, rather than presenting Rs 10.74 crore as a current unpaid balance. The largest individual line item was Rs 2.41 crore of GST for FY25-26, delayed by five to 77 days.

The risk-factor disclosure covers GST, tax deducted at source, or TDS, provident fund, or PF, professional tax, Employees' State Insurance Corporation, or ESIC, and Maharashtra Labour Welfare Fund, or MLWIF, dues. Liqvid Digital states that historical delays had no material impact on its business and financials other than interest or late-fee charges, but says further delays or non-payment could result in financial penalties from government authorities.

The reported total combines periods with different delay profiles. Professional-tax entries start in FY17-18, while GST and TDS entries start in FY22-23. This means Rs 10.74 crore measures delayed-payment instances over several fiscal years, whereas a separate prospectus table records statutory dues outstanding for more than six months as of March 31, 2026.

Which categories made up Liqvid Digital's delayed statutory payments?

GST accounted for the largest share of Liqvid Digital's delayed statutory payments, at Rs 7.21 crore from FY22-23 to FY25-26. TDS was the second-largest category at Rs 2.97 crore over the same four fiscal years. Together, GST and TDS totalled Rs 10.18 crore, or about 94.8% of the Rs 10.74 crore disclosed total.

GST delayed-payment amounts increased from Rs 1.26 crore in FY22-23 to Rs 1.63 crore in FY23-24, Rs 1.91 crore in FY24-25 and Rs 2.41 crore in FY25-26. The maximum GST delay was 28 days in FY22-23, 395 days in FY23-24, 85 days in FY24-25 and 77 days in FY25-26. The FY25-26 amount was therefore the highest GST amount disclosed, while the longest GST delay occurred in FY23-24.

TDS delays were Rs 68.63 lakh in FY22-23, Rs 69.70 lakh in FY23-24, Rs 1.03 crore in FY24-25 and Rs 56.28 lakh in FY25-26. PF delays totalled Rs 44.80 lakh across FY22-23 to FY25-26, ESIC delays totalled Rs 28,000 across FY22-23 to FY24-25, and MLWIF accounted for Rs 44,000 in FY25-26, with delays of 131 to 294 days.

How long were Liqvid Digital's professional-tax payments delayed?

Liqvid Digital's longest disclosed delay was 2,712 days for Rs 1.48 lakh of professional tax in FY17-18. Professional-tax delays then reduced in each subsequently listed year: 2,347 days in FY18-19, 1,981 days in FY19-20, 1,616 days in FY20-21, 1,252 days in FY21-22, 887 days in FY22-23, 521 days in FY23-24, 156 days in FY24-25 and one day in FY25-26.

The professional-tax amounts did not decline in the same sequence. They ranged from Rs 1.00 lakh in FY19-20 to Rs 1.62 lakh in FY22-23, before falling to Rs 38,000 in FY25-26. Across all nine professional-tax entries, the amount for which payment was delayed was Rs 10.62 lakh; the reduction from 2,712 days to one day is a reported historical pattern rather than an assurance about future compliance.

Liqvid Digital also states that it received a show-cause notice from the Profession Tax Officer in connection with delayed statutory dues. A show-cause notice requires a recipient to explain why regulatory action should not be taken. The delayed-dues table does not quantify a penalty linked to the notice, and Liqvid Digital says it may face proceedings and may not be able to sufficiently defend action relating to every compliance period.

What statutory amounts were outstanding for more than six months?

Liqvid Digital reported Rs 75.12 lakh of undisputed GST and TDS dues outstanding for more than six months as of March 31, 2026. The undisputed amounts were Rs 68.40 lakh of GST and Rs 6.72 lakh of TDS, both relating to FY25-26. These are point-in-time outstanding balances and should not be added to the Rs 10.74 crore delayed-payment total as if both tables measured the same obligation.

Liqvid Digital also listed Rs 20.49 lakh of disputed amounts under the Central Board of Direct Taxes, or CBDT, spanning FY2013-14 through FY25-26. The largest disputed CBDT item was Rs 8.02 lakh for FY24-25, followed by Rs 2.91 lakh for FY21-22 and Rs 2.35 lakh for FY2015-16. The disclosed undisputed and disputed amounts together totalled Rs 95.61 lakh as of March 31, 2026.

The distinction establishes two different categories. The Rs 75.12 lakh undisputed balance identifies GST and TDS liabilities outstanding beyond six months, while the Rs 20.49 lakh disputed balance identifies CBDT matters under dispute. The supplied disclosure does not describe either category as a final regulatory penalty or say that all historical delayed-payment entries remained unpaid at March 31, 2026.

What has Liqvid Digital said it will do to prevent further delays?

Liqvid Digital says it has enhanced monitoring and tracking of statutory payments and appointed a Chief Financial Officer, or CFO, as corrective measures. The stated plan applies to payment obligations across GST, TDS, PF, ESIC, professional tax and MLWIF. The disclosure does not specify the CFO appointment date, a payment timetable, a technology system or an audit process.

The plan will depend on the enhanced monitoring preventing fresh delays and payments being made within applicable statutory timelines. Liqvid Digital says there is no assurance that regulators will not initiate proceedings or that it will sufficiently defend actions relating to all compliance instances and periods. It further states that future default or delay could lead to financial penalties and adversely affect business, financial condition and cash flows.

Conclusion

Liqvid Digital's Rs 10.74 crore delayed-payment disclosure was concentrated in GST at Rs 7.21 crore and TDS at Rs 2.97 crore, while the most extended timing lapse was the 2,712-day professional-tax delay in FY17-18. The figures show professional-tax delay duration declining to one day in FY25-26, even as the GST amount delayed rose from Rs 1.26 crore in FY22-23 to Rs 2.41 crore in FY25-26.

The next point to watch is execution of Liqvid Digital's disclosed plan to enhance statutory-payment monitoring following the CFO appointment. Unresolved matters include the show-cause notice from the Profession Tax Officer, the possibility of regulatory proceedings, and Rs 95.61 lakh of disputed and undisputed statutory dues outstanding for more than six months at March 31, 2026.