State tax demand of Rs 4.93 crore; company plans to appeal

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WATERBASE · price

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Nifty Microcap 250market · in no size index; the smallest one is used+0.4%+0.9% vs market

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AI summary

Waterbase disclosed tax orders from the Nellore Deputy Commissioner under GST laws for product reclassification. For FY 2022-23, tax, interest and penalty total Rs 2.82 crore; for FY 2023-24, they total Rs 2.11 crore. The combined demand is Rs 4.93 crore. The company sees no material impact on finances or operations and will appeal.

Likely market impact

The Rs 4.93 crore demand may affect cash flow if upheld, but management reports no material financial or operational impact and plans to appeal.