DC Infotech Hit With ₹6.32 Cr Tax Demand, Plans Appeal

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AuthorKavya Nair|Published at:
DC Infotech Hit With ₹6.32 Cr Tax Demand, Plans Appeal
Overview

DC Infotech & Communication Limited has received a ₹6.32 crore tax demand and penalty from GST authorities for alleged credit mismatches between FY19-20 and FY23-24. The company disputes the order, calling it incorrect, and plans to appeal, stating it will have no material financial or operational impact.

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DC Infotech & Communication Limited has received an official order for a tax demand of ₹31,615,967 and a penalty of ₹31,615,967, totaling ₹6.32 crore. These figures stem from alleged discrepancies in the company's Goods and Services Tax (GST) credit claims covering the financial years 2019-20 through 2023-24.

The company stated that it considers the order incorrect and plans to file an appeal against it. DC Infotech & Communication Limited also clarified that this tax order is not expected to materially affect its financials or operations.

Despite the company's assertion of no material impact, tax demands and penalties of this magnitude generally warrant investor attention. The outcome of the company's appeal will be crucial in determining any final financial implications.

If DC Infotech's appeal is unsuccessful, the company could be required to pay the full ₹6.32 crore tax and penalty, which might affect its liquidity and financial standing.

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