Orchasp Limited has informed the Exchange about Pendency of Litigation(s)/dispute(s) or the outcome impacting the Company
ORCHASP · price
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Orchasp Limited has disclosed receiving a spot memo from the Office of the Commissioner of Goods and Services Tax (Central tax), Hyderabad, on 27 March 2026. The memo relates to a GST audit covering FY2020-21 to FY2023-24 and alleges non-payment of GST on import of services under reverse charge, invoking Section 20 of the IGST Act, 2017 and Section 74 of the CGST/SGST Act, 2017. The quantified demand is Rs. 12,58,59,446 (approximately Rs. 12.59 crore), with additional interest and penalty yet to be determined. The company is currently evaluating the spot memo and its potential consequences.
This represents a material contingent tax liability of around Rs. 12.59 crore plus interest and penalty, which could meaningfully impact the company's financials if sustained. Investors should watch for the company's response and any further developments, as the outcome is uncertain at this stage.