Intimation under Regulation 30 of the SEBI (LODR) Regulations, 2015
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Rithwik Facility Management Services has received a notice from the Commercial Tax Department, Guindy Circle, demanding Rs. 91 Lakhs related to Input Tax Credit for FY 2021-22, as per the company's filed Annual Return GSTR-09. The claim pertains to an alleged mismatch or disallowed ITC claimed by the company on its GST returns. The company has stated it intends to contest this claim. The disclosure is being made under Regulation 30 of SEBI's LODR Regulations as a material event for the stock exchanges.
This is a contingent tax liability of Rs. 91 Lakhs, which is relatively modest but could affect profitability if not resolved favorably. The company's decision to contest suggests it believes the claim may not be fully valid, so investors should watch for further updates on the outcome.