Muthoot Finance Limited has informed the Exchange about the Order Passed by the Deputy commissioner, Adjudication-1, Ernakulam, State Goods and Service Tax Department, Kerala.
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Muthoot Finance has received an order from the Kerala GST Department (Deputy Commissioner, Adjudication-1, Ernakulam) dated June 6, 2025, raising a total demand of approximately Rs. 1.52 crore. This includes a tax demand of Rs. 54 lakh, interest of Rs. 44.22 lakh, and a penalty of Rs. 54 lakh under Section 74 of the CGST/KSGST Act. The dispute relates to a corporate guarantee given by the company to its subsidiary, which the tax department has treated as a taxable supply. The company disagrees with the order, calling the allegation untenable, and is in the process of filing an appeal. The company has stated there is no material impact on its financial position or operations.
The Rs. 1.52 crore demand is small relative to Muthoot Finance's overall size and should not materially affect operations or financials. The appeal process is ongoing, and the final outcome will depend on appellate proceedings.