Tax Filing Irregularity Risk represents risk indicator related to tax filing irregularity risk in the borrower, facility, collateral, or transaction. It should trigger deeper underwriting review, mitigation, pricing adjustment, or monitoring action. Define thresholds, data source, severity levels, and owner for action. In MSME underwriting, it is read along with financial statements, bank statements, GST data and existing obligations to judge cash-flow strength and repayment capacity. The trend is usually more important than one isolated number, because MSME financials can be affected by seasonality, accounting treatment and one-off events. For example, delayed or nil GST filings can conflict with reported sales and may require deeper verification. It matters because financial interpretation can change the view on leverage, liquidity, profitability, debt-service ability and the borrower’s real operating strength. The common caution is to check calculation basis, period, exceptional items, related-party entries and consistency with GST, bank statement and audit data.