Health X wins tax appeal, Rs 65 lakh service tax demand set aside

Arbitration wonRegulatory & Legal View source PDF Explain this filing

HEALTHX · price

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Nifty Microcap 250market · in no size index; the smallest one is used+0.4%+0.2% vs market

Healthcare Service Provider peers, median of 27sector+1.1%-0.5% vs sector

On the reaction day the stock moved 0.2 pts more than Nifty Microcap 250 and 0.5 pts less than its Healthcare Service Provider peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

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AI summary

Health X Platform has won its service tax appeal at CESTAT. The tribunal set aside the Rs 65.19 lakh demand raised by the Commissioner of Service Tax, Kolkata in 2014, with no penalties. The company had appealed an order alleging non-payment of service tax, education cess and H.E. Cess. The ruling is favorable with no material financial impact on the company.

Likely market impact

Positive: long-pending tax demand of about Rs 65 lakh fully set aside with no penalties, removing an overhang for shareholders.