Muthoot Finance Limited has informed the Exchange about the order passed
MUTHOOTFIN · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
The Office of the Assistant Commissioner, Central GST, Noida passed a rectification order on March 24, 2026, reducing an earlier tax demand and penalty of Rs. 1,91,46,142 (approximately Rs. 1.91 crore) to NIL. This relief came after Muthoot Finance filed a Writ Petition with the Hon'ble High Court of Judicature at Allahabad. The original demand related to Input Tax Credit issues — Rs. 95.7 lakh on supplies where supplier registration was cancelled retrospectively, and Rs. 2,745 on ineligible ITC from debit notes. The company has stated there is no material impact on its financial, operational, or other activities.
Positive for shareholders — the entire tax demand of nearly Rs. 1.91 crore has been fully set aside, removing an earlier financial liability. The company's confirmation of no material impact suggests the resolution is already reflected in its books and is unlikely to move the stock significantly.