Revised Filing, Recepit of order date 03/04/2025
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
On the reaction day the stock moved 6.0 pts more than Nifty Microcap 250 and 4.6 pts more than its Other Electrical Equipment peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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JSL Industries has informed BSE about a favorable order from the Additional Commissioner, CGST & CE, Vadodara-I in a long-pending service tax matter. The case dates back to a Show Cause Notice issued in January 2016, which had proposed a service tax demand of ₹22,51,007 under the reverse charge mechanism for the period July 2012 to November 2015. After CESTAT remanded the matter for fresh (de novo) adjudication, the Additional Commissioner has now passed an order dropping the entire demand along with interest and penalty. The company clarified there was no delay in filing the announcement, which was made within 24 hours of receiving the order on 3 April 2025.
This is a positive development for shareholders as a potential tax liability of around ₹22.5 lakh plus interest and penalty has been fully written off, removing a long-pending overhang on the company.