Fortis Healthcare Limited has informed the Exchange about receipt of GST orders as per attached disclosure.
FORTIS · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Fortis Healthcare has received GST orders from the State Tax Officer (Intelligence Division), Chengalpattu, Tamil Nadu for three financial years. The tax authority confirmed demands of INR 478.08 lakhs (FY2020-21), INR 850.00 lakhs (FY2021-22), and INR 811.53 lakhs (FY2022-23), totaling approximately INR 21.4 crores including interest and penalty. These orders relate to show cause notices that were originally issued for INR 469.63 lakhs, 678.09 lakhs, and 668.83 lakhs respectively. The company submitted responses to the notices, but the GST authority passed orders confirming the demands. Some show cause notices were dropped. The filing does not specify whether Fortis plans to appeal these orders.
The confirmed tax demand of about INR 21.4 crores is a material outflow if not reversed on appeal, but it is relatively small compared to Fortis's overall scale. Near-term stock impact is likely muted unless the company signals it will not contest the orders further.