GST demand of Rs 53.15 lakh on corporate guarantee to subsidiaries; company to appeal
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Narayana Hrudayalaya received an Order-in-Original from the Assistant Commissioner of Central Tax, Bengaluru, raising a GST demand on corporate guarantees given by the company to its subsidiaries for the period April 2021 to October 2023. The penalty imposed is Rs 53.15 lakh along with applicable interest. The company states there is no material impact on its financials or operations and has decided to appeal before the appropriate appellate authority. Disclosure was delayed due to the order being received on a weekend and an internal communication gap.
Small penalty of about Rs 53.15 lakh. Company says no material impact and will appeal, keeping the financial hit limited.