Order reecived from CESTAT Ahmedabad in service tax matter
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JSL Industries has informed the stock exchanges about an order passed by CESTAT Ahmedabad on January 23, 2026, in a service tax case (Case No. SERVICE TAX/0010449/2020). The dispute related to a service tax demand of Rs. 13,30,501 on remuneration of Rs. 89,77,500 paid to Whole-time Director Smt. T. R. Amin during October 2015 to June 2017. The tax department (Commissioner, CGST & Central Excise-Vadodara-I) had raised this demand. CESTAT Ahmedabad set aside the service tax demand, ruling in favor of the company that the remuneration paid to the director is not liable to service tax.
This is a positive outcome for shareholders as the company has won the tax dispute and avoids a potential outflow of around Rs. 13.3 lakh. The order removes an old tax uncertainty and is unlikely to have any material impact on the stock price given the small quantum involved.