Raminfo Ltd receives demand of Rs. 4,58,76,000 from GST department

Raminfo Ltd has received an Order from the Goods and Services Tax (GST) department, Andhra Pradesh on December 31 , 2023 raising demand for tax liability and interest on various GST issues with an amount totaling Rs. 4,58,76,000/-

This penalty has been imposed in accordance with Section 73 of the Central Goods and Services Tax Act, 2017 ("CGST Act") and the Andhra Pradesh Goods and Services Tax Act, 2017 ("APGST Act").

TThe Company believes that it has adequate legal grounds to reasonably substantiate its position in this matter and does not expect any material impact on the financial, operation, or other activities of the Company due to the said Order.

The Company would pursue an appeal / evaluate other legal options against the said Order.

Shares of RAMINFO LIMITED was last trading in BSE at Rs. 138.55 as compared to the previous close of Rs. 137.35. The total number of shares traded during the day was 38549 in over 417 trades.

The stock hit an intraday high of Rs. 139.75 and intraday low of 135.75. The net turnover during the day was Rs. 5295673.00.

Source : Equity Bulls

Keywords

RAMINFO INE357B01022 GSTDepartment Demand