NIIT USA subsidiary gets USD 600,303 excise tax demand from Washington State
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NIIT (USA) Inc., a wholly owned subsidiary, received an excise tax demand of USD 600,303.50 from the Washington State Department of Revenue following an audit covering January 2022 to December 2025. The demand includes USD 435,957.60 in tax, USD 111,994.73 penalty, and USD 52,351.17 interest. No violation of law is alleged; the differences are in interpretation of excise tax classifications and deductions. The subsidiary had already created a provision in the previous financial year. There is no impact on operations, and the financial impact is not material.
Demand already provisioned in prior year. No operational disruption. Financial impact immaterial for shareholders.