Prudent Corporate Advisory Services Limited — Important, 28-02-2025: Updates

The company has received a GST demand order from the GST Appellate Authority in Kolkata, pertaining to alleged excess input tax credit and short reversal on exempted supplies for the period from July 1, 2017, to March 31, 2018. The demand includes Rs. 18.26 lakh in tax, Rs. 20.60 lakh in interest, and Rs. 1.92 lakh in penalty. While this issue raises some concerns, the company asserts that it will not have a material adverse effect on its financial operations. The company plans to challenge the order through an appeal to the appropriate authority within the stipulated timeframe. Investors should monitor this situation closely, as the outcome could affect the company's operational stability and future financial performance.