Madras High Court sets aside INR 2.3-bln GST demand against IRFC
This story was originally published at 20:58 IST on 16 April 2025
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NEW DELHI – The Madras High Court has set aside the goods and services tax department's demand of INR 2.31 billion against Indian Railway Finance Corp. Ltd., and asked the department to consider the matter afresh.
The court told Indian Railway Finance Corp. to submit its reply to the department within four weeks. On receiving the reply, the department has to look into it and issue 14-day notice for a personal hearing. Thereafter, the department will have to pass appropriate orders on merits and in accordance with the law expeditiously.
In December, the department had disallowed certain GST credit for the financial year 2020-21 (Apr-Mar) and raised a demand for the reverse charge mechanism. The GST demand included a tax demand of INR 2.1 billion and a penalty of INR 209.6 million.
On Wednesday, shares of Indian Railway Finance Corp. ended 0.6% higher at INR 129.06 on the National Stock Exchange. End
Reported by Surya Tripathi
Edited by Rajeev Pai
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