Nazara Technologies Limited informs the Exchange regarding 'Intimation under Regulation 30 of the SEBI (LODR) Regulations, 2015 - Filing of Appeal Against CGST Demand Order'.
NAZARA · price
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Awaiting price reaction for this filing.
Nazara Technologies has filed an appeal challenging a CGST demand order received from the Additional Commissioner, CGST & C. Ex, Mumbai South Commissionerate. The original order dated January 31, 2025 imposed tax and penalty demands under Sections 74(1), 50 and 122(2)(b) of the CGST Act, 2017 and Section 20 of the IGST Act, 2017, for financial years 2017-18 and 2018-19. The total financial exposure is approximately ₹2.84 crore in GST liability and an equal amount of ₹2.84 crore in penalty, taking the combined demand to around ₹5.68 crore. The appeal has been filed within the prescribed time at the Office of the Principal Commissioner of CGST & C. Ex, Mumbai South Commissionerate.
The contested amount is not material relative to Nazara's overall size, and the company is actively defending its position through the appellate process. Shareholders should monitor the outcome, but near-term impact on the stock is likely limited.