Max Estates Limited has informed the Exchange about Action(s) initiated or orders passed under the Central Goods and Services Tax Act, 2017
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 has received an order from the Office of the Deputy Commissioner, State Tax Department, Uttar Pradesh (Noida) under Section 73(9) of the CGST and UPSGST Acts. The order raises a demand of ₹2.15 crore (₹2,15,47,966), including tax, penalty, and interest, pertaining to FY 2021-22. The company has stated that this order has no material impact on its financial position, operations, or other activities. It plans to challenge the order by filing an appeal before the appropriate authorities, citing strong legal and factual grounds.
The demand size is relatively small and the company explicitly states no material financial or operational impact. However, the outcome of the appeal remains uncertain and adds a minor litigation overhang for shareholders to monitor.