Diligent Media Corporation Ltd Challenges GST Demand Order of Rs. 33.90 Crores

Diligent Media Corporation Ltd has filed a writ petition before the Hon'ble High Court of Bombay, challenging a Goods and Service Tax (GST) Demand Order issued by the Office of the Assistant Commissioner of State Tax. The Demand Order, issued in Form GST DRC-07, alleges non-payment of GST on the assignment of leasehold rights in respect of a leasehold industrial plot in Mumbai, and raises a demand of Rs. 33.90 crores along with applicable interest and penalty. The Company, relying on certain judicial precedents and the advice of its Counsels, has taken this step to contest the impugned Demand Order.