Xpro India Limited has informed the Exchange about General Updates
XPROINDIA · price
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Awaiting price reaction for this filing.
Xpro India Limited has received a favourable order from the Commissioner (Appeals-I), Central Tax, Pune, setting aside the earlier demand of service tax, interest, and penalty raised by the Deputy Commissioner, Central GST, Pune-I. The original demand, received in November 2024, was for service tax of INR 4,43,547 plus an equal amount as penalty and applicable interest, related to FY 2016-17 and 2017-18 over reverse charge mechanism on certain services. The company has now been granted complete relief with no financial, operational, or other impact from the matter.
Positive for shareholders — the company has successfully overturned the entire tax demand, removing a potential liability of around INR 8.87 lakh in tax and penalty plus interest. This eliminates an overhang on the stock, though the absolute amount is small relative to the company's size.