Fortis Healthcare Limited has informed the Exchange about receipt of GST orders as per attached disclosure.
FORTIS · price
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Awaiting price reaction for this filing.
Fortis Healthcare has received GST orders from the State Tax Officer (Intelligence Division) in Chengalpattu, Tamil Nadu, covering three financial years. The tax authority confirmed demands of INR 478.08 lakhs for FY 2020-21, INR 850.00 lakhs for FY 2021-22, and INR 811.53 lakhs for FY 2022-23 — totaling roughly INR 21.4 crores, which includes interest and penalties across all years. The original show cause notices had asked for slightly lower amounts, but the final confirmed demands are higher after adding interest and penalty components. The company has not yet stated whether it intends to appeal these orders, and some parts of the original notices were dropped.
A combined tax demand of around INR 21.4 crores including interest and penalties could pressure near-term earnings if upheld, though the amount is relatively small compared to Fortis's overall size. Investors should watch for any appeal or further update, as a successful challenge could reduce or reverse the liability.