The Company has received an order of adjudication pertaining to FY April 2020 to March 2021 form GST department , Karnataka on 14.02.2025.Tax amount of Rs. 3,600/0 and levy of penalty of Rs.20,000/-
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Storage Technologies and Automation Ltd received an adjudication order from the Karnataka GST department dated 14 February 2025 related to FY April 2020 to March 2021. The issue was misclassification of intra-state supply of services as inter-state supply of services. The order imposes a tax demand of Rs. 3,600 and a penalty of Rs. 20,000 under Section 73 of the CGST and KGST Acts. The total impact is Rs. 23,600, which is well below the Rs. 1 lakh SEBI disclosure threshold, so the company filed this voluntarily. The company states it does not foresee any material impact on its financial operations or activities.
The penalty amount is negligible (Rs. 23,600 total) and unlikely to affect the stock price or operations. This is a routine minor tax compliance matter from 4-5 years ago and should not concern shareholders.