The relevant disclosure is attached.
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Fortis Malar Hospitals informed the stock exchanges that it received a Show Cause Notice from the GST Authority (State Tax Officer, Chengalpattu) for the period April 2020 to March 2021, originally alleging a demand of ₹3,293.11 lakhs. After the company submitted its response, the GST Authority passed an order confirming a much smaller demand of only ₹2.78 lakhs (including interest of ₹0.81 lakhs and penalty of ₹0.98 lakhs). The balance amount from the original notice has been dropped entirely, meaning the company succeeded in reducing the demand by over 99%.
This is a strongly positive outcome for shareholders — the original ₹32.93 crore GST demand has been reduced to a negligible ₹2.78 lakhs, with the bulk of the claim dropped. The financial impact on the company is immaterial and should reassure investors.