NIIT Limited has informed the Exchange about Action(s) initiated or orders passed
NIITLTD · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
NIIT Limited has received a Show Cause Notice (SCN) from the Deputy Commissioner of State Tax, Mumbai under GST regulations. The notice covers FY 2021-22 and pertains to the disallowance of certain GST input tax credit (ITC) claimed in GSTR-3B/9 but not reflected in GSTR-2A/8A. The aggregate demand is INR 1.79 crore, comprising a tax demand of INR 0.94 crore, interest of INR 0.76 crore, and a penalty of INR 0.09 crore. The company has stated that based on its primary assessment, the SCN is not tenable and it will file a reply in due course.
The company maintains that the notice is contestable and does not foresee any material adverse impact on its financials, operations, or other activities. At ~INR 1.79 crore, the demand is relatively small compared to NIIT's overall size, so the short-term stock impact is likely limited unless the matter escalates further.