Karnataka GST order against Sagility, demand of about Rs 90.45 lakh

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AI summary

Sagility Limited received a GST order (Form DRC-07) from the Karnataka Commercial Taxes Department for the period April 2022 to March 2023. Total demand is Rs 90,44,596, split as tax Rs 31.87 lakh, interest Rs 55.21 lakh, and penalty Rs 3.36 lakh. The authorities raised the demand on GST treatment of export of services and denial of input tax credit on certain credit notes. The company believes the demand is not maintainable and plans to appeal before the Joint Commissioner of Commercial Taxes (Appeals), Bengaluru within the prescribed timelines.

Likely market impact

Demand of about Rs 90.45 lakh is small relative to company size. Sagility will appeal and states the order has no material impact on financials or operations.