Awfis Space Solutions Limited has informed the Exchange about Action(s) initiated or orders passed
AWFIS · price
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On the reaction day the stock moved 1.2 pts less than Nifty Microcap 250 and 0.8 pts less than its Diversified Commercial Services peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Awfis Space Solutions has received a tax order in Form DRC-01A from the Commercial Tax Officer, Chennai Central Jurisdiction, directing it to pay a GST liability of approximately ₹3.22 crore (INR 3,21,69,811) for FY 2022-23 under sections 73(5)/74(5) of the TNGST Act, 2017. The demand follows an inspection authorized under Section 67 of the TNGST Act by the Joint Commissioner (ST), Chennai Intelligence – I. The company has stated it is preparing a suitable response and intends to submit its reply within the prescribed timeframe. Management believes the notice is likely to have no material impact on its financials, operations, or other activities.
The ₹3.22 crore tax demand is relatively small for Awfis and the company expects no material financial or operational impact. Investors should monitor the company's response, as the final outcome could range from full dismissal to partial or full payment of the demand.