Tax & Penalty20 Aug 2026, 10:30 pm
Olympic Cards Wins GST Appeal, Rs. 2.17 Cr Liability Reduced
AI Summary
Olympic Cards Ltd has successfully appealed a GST demand, with the Deputy Commissioner (ST) Appeals, Chennai North, allowing their appeal petition. The total amount of Rs. 2,17,22,955/- related to IGST, CGST, and SGST for the financial year 2018-19 has been reduced. This significantly lowers the company's GST liability for that period. However, several other appeals concerning Goods & Services Tax and Income Tax for different financial years are still pending.
Key Highlights
- GST appeal allowed, reducing liability by Rs. 2.17 Cr.
- Significant reduction in GST dues for FY 2018-19.
- Several other tax appeals remain pending.
- Positive outcome from tax litigation proceedings.
Price Impact
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