GST dept appeals against favorable CESTAT order on Rs 312 Cr demand

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AI summary

The Principal Commissioner of Central GST, Noida has filed an appeal before the Allahabad High Court against a favorable CESTAT order for HCL Infosystems. CESTAT had earlier set aside a demand of Rs. 312.34 Crores plus interest and penalty. The matter is at admission stage with no interim order passed. Company says it has a strong case and will continue to defend. No additional financial impact for now.

Likely market impact

Near-term impact limited as CESTAT's favorable order still stands. Outcome of the High Court appeal will decide if the Rs 312 Cr demand revives.