Quess Corp Ltd Faces Rs. 111.26 Crore Penalty from CGST Department

Quess Corp Ltd has received an order from the Office of the Commissioner of CGST, Government of India, imposing a penalty of Rs. 111.26 crores under Section 122(1) of the Central Goods and Services Tax Act, 2017 for the financial years 2017-18 to 2022-23. The allegations primarily pertain to passing on the input tax credit to insurance companies without supply on manpower services. The company believes that the imposition of the penalty is not maintainable and is in the process of contesting the order with appropriate legal forums. Despite the penalty, there is no impact on the financial, operational, or other activities of the company.