Balaji Telefilms Limited has informed the Exchange about Action(s) initiated or orders passed
BALAJITELE · price
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Balaji Telefilms has received two GST orders under Section 73(9) of the CGST/MGST Act, 2017 from the Deputy Commissioner of State Tax, Mumbai, alleging excess or ineligible Input Tax Credit claims for FY 2021-22. The first order, dated December 17, 2025, raises a demand of ₹32.58 crores (tax ₹16.93 cr, interest ₹13.96 cr, penalty ₹1.69 cr). The second order, dated December 9, 2025, is against its erstwhile subsidiary ALT Digital Media Entertainment (merged with the company in June 2025) for ₹18.04 crores (tax ₹9.54 cr, interest ₹7.22 cr, penalty ₹1.28 cr). The combined demand is around ₹50.62 crores. The company says the demands are not legally sustainable, citing a retrospective amendment to Section 16(2)(c) of the CGST Act by the Finance Act 2024. It plans to appeal before the Appellate Authority, with the pre-deposit to be paid using ITC balance rather than cash.
Although the total demand of ~₹50.62 crores is sizeable, the company states there is no material impact on financials or operations as the pre-deposit will be made using existing ITC credits (no cash outflow) and it intends to contest the orders. Shareholders should watch for the appeal outcome, but near-term cash flow impact looks limited.