Announced Tue, 7 Jul · 20:01 IST
GST dept appeals against favorable CESTAT order on Rs 312 Cr demand
Regulatory & Legal View source PDF
HCL-INSYS · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Price reaction · full curve 14 horizons · vs prior close
-0.2%1-day move
₹12.12
prior close
₹12.13
base price
After-mkt
timing
5m10m15m30m1D2D3D4D5D7D15D1M2M3M
+0.9+0.7+0.4—-0.2-1.0-1.1-1.8-2.2-2.6————
Up moveDown movePending
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.