On April 16, 2025, Indian Railway Finance Corporation Limited (IRFC) announced it had received an interim relief in its ongoing GST dispute. The Madras High Court has set aside a demand order amounting to ₹230.55 crore issued by the Assistant Commissioner (Sales Tax) and has remanded the case for fresh evaluation.
The Hon’ble High Court of Judicature at Madras has allowed the Writ Petitions filed by the Company and set aside the impugned order dated 04.12.2024 of the Assistant Commissioner (ST) of the Demand order for an aggregate amount of ₹230.55 crore, and the matter is remanded to the respondent for fresh consideration.
The Hon’ble High Court has also directed the Company to submit its reply/objection within a period of four (4) weeks from the date of receipt of a copy of this order, along with supporting documents/material.
Following IRFC’s submission, tax authorities are required to issue a 14-day notice prior to conducting a personal hearing. The court also instructed that any new order must be issued only after giving the company an opportunity to be heard, and in full compliance with legal procedures.
On April 15, 2025, the company has scheduled its Board Meeting for April 29, 2025, wherein it will consider and approve the Audited Financial Results for the quarter and financial year ended March 31, 2025, and approval of the Market Borrowing programme of the company for the Financial Year 2025-26.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.
Investments in the securities market are subject to market risks, read all the related documents carefully before investing.
Published on: Apr 17, 2025, 10:05 AM IST
Sachin Gupta
Sachin Gupta is a Content Writer with 6+ years of experience in the stock market, including global markets like the US, Canada, and Australia. At Angel One, Sachin specialises in creating financial content that simplifies complex market trends. Sachin holds a Master's in Commerce, specialising in Economics.
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