Indian Railway Catering And Tourism Corporation Limited — Important, 03-02-2025: General Updates

An Order-In-Original has been received from the Assistant Commissioner of CGST Delhi (South), imposing a demand of ₹59.22 Cr, which includes a penalty of ₹35.15 Cr. This relates to tax periods from FY 2017-18 to FY 2021-22. Discrepancies noted include incorrect availing of Input Tax Credit (ITC) based on the place of supply and counter filing status of suppliers, along with issues arising from supplies sourced from cancelled GSTINs. While this presents a significant financial exposure, the demand is litigative, allowing the company to contest it within the legal timelines. Investors should monitor this situation closely as it could impact the company's operational dynamics and financial position.