Tera Software Limited has informed the Exchange about Action(s) taken or orders passed
TERASOFT · price
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Awaiting price reaction for this filing.
Tera Software Limited has received positive news on two pending GST matters, filed under SEBI LODR Regulation 30. First, six GST demand orders worth Rs. 25.90 crore issued by the Assistant Commissioner of Ranchi South, Jharkhand — relating to disputed Input Tax Credit (ITC) claims for FY 2017-18 to 2022-23 — have been fully withdrawn by the GST authorities. Second, a separate Rs. 32.33 lakh order from the West Bengal GST authorities for ITC disallowance due to late filing of returns for FY 2019-20 has been set aside by the Joint Commissioner. The company has stated that, as a result, it bears no liability in either matter, representing a combined potential relief of roughly Rs. 26.2 crore.
This is a positive development for shareholders as it removes a significant contingent tax liability of around Rs. 26 crore from the company's books, which could improve earnings visibility and reduce provisioning pressure. The market reaction is likely to be mildly positive, though the amounts are not material enough to drive a major re-rating.