Max Healthcare Institute Limited has informed the Exchange about disclosure under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
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Max Healthcare has received a tax order from the GST Officer (Ward-92&96) of Delhi's Department of Trade and Taxes alleging excess availment of Input Tax Credit (ITC) by the company. The total financial exposure is approximately ₹55.21 crore, broken down as a GST demand of ₹33.66 crore, interest of ₹18.18 crore, and a penalty of ₹3.37 crore. The order was received on December 30, 2025, and the company is currently in the process of seeking rectification of the order. If the rectification is unfavourable, Max Healthcare plans to file an appeal before the appropriate authority. The company has disclosed this under SEBI's Regulation 30 listing requirements, making it publicly available to investors.
This is a material tax demand that, if upheld after appeals, could result in an outgo of over ₹55 crore plus potential further interest accruals. However, the company is actively contesting the order through rectification and appeal, so the actual financial impact remains uncertain and is unlikely to be felt immediately. Investors should monitor updates on the appeal outcome, as a final adverse ruling could pressure near-term earnings, though the amount is manageable relative to Max Healthcare's overall scale of operations.