TeamLease - Disclosure under Regulation 30 read with Part A of Schedule III of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
TEAMLEASE · price
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Awaiting price reaction for this filing.
TeamLease has disclosed a GST demand order received from the Karnataka tax authority (Deputy Commissioner of Commercial Taxes, LTU, Bengaluru) on December 29, 2025. The order relates to FY 2021-22 and challenges the company's claim of GST exemption on supply of farm labour, with the authority taking the view that the supply falls under apprenticeship training rather than agricultural labour. A penalty of Rs. 19,65,215 (about Rs. 19.65 lakhs) has been imposed under Section 73 of the CGST Act. The company has stated there is no material impact on financials or operations, and the amount is being treated as a contingent liability. TeamLease plans to file an appeal within 3 months and may recover the amount from customers under an indemnity clause.
The financial impact is described as immaterial and only a contingent liability, so it is unlikely to move the stock meaningfully. However, it flags ongoing tax uncertainty on apprenticeship-related services and reliance on customer indemnity to recover any payout.