Nephrocare Health Services Limited has informed the Exchange about New Tax Litigation(s) filed by the Company
NEPHROPLUS · price
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Nephrocare Health Services Limited has filed a writ petition before the Hon'ble High Court of Jammu & Kashmir and Ladakh at Srinagar challenging GST orders. The dispute originates from a Show Cause Notice alleging a mismatch between turnover reported in Form 26AS and GST returns for FY 2020-21. The GST authorities raised a demand of ₹2.51 crore comprising tax of ₹1.46 crore, interest of ₹0.90 crore, and penalty of ₹0.15 crore. The company clarified that the Form 26AS turnover is PAN-based and includes revenues across multiple GST registrations, and that its services are exempt from GST. After its appeal was rejected and recovery proceedings were initiated, the company filed the writ petition to challenge the validity of the orders and recovery proceedings. The company believes the demand is not tenable and does not expect material impact.
The ₹2.51 crore GST demand is being contested by the company, which views it as not tenable. While the matter is sub-judice, any adverse outcome could have financial implications for the company.