STL Networks Limited has informed the Exchange about General Updates
STLNETWORK · price
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STL Networks Limited has received a demand order of Rs. 6.06 crores from the Office of the Joint Commissioner CGST & CX, Haldia Commissionerate. The order pertains to FY 2019-20 and relates to a mismatch between taxable turnover and GST disclosed in GSTR-7 (GST TDS certificate) versus GSTR-3B returns. The demand notice was issued in the name of Sterlite Technologies Limited and relates to the Global Services Business vertical, which was demerged into STL Networks with effect from March 31, 2025. The company believes the demand is not maintainable and is evaluating options including filing an appeal. The company states it does not envisage any material impact on its financials, operations, or other activities.
The Rs. 6.06 crore demand is relatively small and pertains to a pre-demerger period of Sterlite Technologies. Since the company plans to appeal and believes the demand is unsustainable, the immediate impact on shareholders is likely limited. However, the outcome of the appeal could affect financials if the order is upheld.