Max Estates Limited has informed the Exchange about Action(s) initiated or orders passed for dropping the proposed demand in the Show Cause Notice filed with the Exchanges on April 5, 2025.
MAXESTATES · price
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On the reaction day the stock moved 0.7 pts less than Nifty Microcap 250 and 0.2 pts less than its Residential Commercial Projects peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Max Estates Limited had received a Show Cause Notice from the Central GST Department in April 2025 questioning Input Tax Credit (ITC) claims on certain services, proposing a demand of ₹2.22 Crores plus interest and penalty. On December 30, 2025, the Assistant Commissioner of Central GST, Division-I, Noida passed an order dropping the proposed demand entirely, as the allegations were not sustained. The company has confirmed that this order has no material impact on its financial or operational activities. This effectively closes a tax dispute that had been hanging over the company since earlier in 2025.
Positive for shareholders — a potential tax liability of ₹2.22 Crores has been fully written off, removing a regulatory overhang from the stock with no financial hit to the company.