Updater Services Limited has informed the Exchange about Intimation Under Regulation 30 Of SEBI (Listing Obligations And Disclosure Requirements) Regulations - 2015
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Updater Services Limited's subsidiary, Fusion Foods and Catering Private Limited, has received a GST order of Rs. 1,01,42,848 (approximately Rs. 1.01 crore) from the Assistant Commissioner, Chennai, Tamil Nadu under Section 73 of the CGST Act, 2017. The order relates to alleged supply to SEZs without payment of tax and was dated December 29, 2025. The company states the order was passed without considering their earlier submission. Updater Services is exploring all legal options, including filing a writ or appeal before the appellate authority. Based on their own assessment, the company believes the order is without merit and expects the financial impact to be NIL.
No material financial impact expected as per company assessment, but the tax dispute may create short-term uncertainty for shareholders. The outcome of the legal challenge will determine any actual liability.