GTL Infrastructure Limited has informed the Exchange regarding 'Disclosure under regulation 30 of SEBI (Listing Regulations and Disclosure Requirements) regulations, 2015'.
GTLINFRA · price
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Awaiting price reaction for this filing.
GTL Infrastructure has received a GST intimation (Form DRC 01) from the Joint Commissioner, Corporate Circle, Lucknow under Section 74 of the GST law. The notice proposes a tax and penalty demand of INR 37.94 crores plus applicable interest for FY 2021-22, citing discrepancies between GSTR1, GSTR3B, GSTR9/9C returns and the company's Balance Sheet. The company received the communication on May 21, 2025, and plans to file a reply to contest the demand. Management has stated they do not foresee any material impact on financial or operational activities. This is a preliminary intimation/proposed demand, not a confirmed or finalized order.
The INR 37.94 crore demand is a proposed tax liability that the company intends to defend, so there is no immediate cash outflow. However, if the demand is upheld after the reply process, it could become a financial liability and weigh on the stock, especially given the company's existing debt concerns.