Sobha Ltd Receives Tax Order for ₹297.59 Million

Sobha Limited has received an order from the Commissioner (Appeals) of Central Tax, Central Excise, and Revenue, Kochi. The order pertains to a GST appeal filed by the Assistant Commissioner, Central Tax & Central Excise, Thrissur, against an earlier order in Sobha's favor. The issue involves the valuation of capital goods supplied to distinct persons. The Commissioner (Appeals) has ruled against Sobha, imposing a tax amount of ₹297.59 million plus applicable interest and penalty. Sobha Limited is planning to file an appeal before the GSTAT within the stipulated timelines, believing it has strong legal and factual grounds. The company is currently evaluating the financial implications of this order and has stated there is no impact on its operations.