IL&FS Transportation Networks gets GST demand notice of Rs 25.06 crore for FY19

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IL&FSTRANS · price

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Price reactionminutes from the announcement price · days from the prior close

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prior close

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Nifty Microcap 250market · in no size index; the smallest one is used-0.5%-1.9% vs market

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AI summary

IL&FS Transportation Networks received a GST demand notice of Rs 25.06 crore including interest and penalty from the Haryana state tax department for alleged non-payment of GST for FY 2018-19. The notice was issued under section 74 of the state GST act. The company states there is no material impact on financials or operations and is reviewing the notice to decide next steps.

Likely market impact

Company says no material impact; shareholders should watch the legal review, as the tax demand is still disputed and could result in a payout later.