Nippon Life India Asset Management Limited — Important, 01-02-2025: General Updates

The company has received a demand order for the collection of GST from the Joint Commissioner, CGST & CX Commissionerate Thane, totaling ₹1.53 crore related to the financial year 2017-18. The order alleges ineligible Input Tax Credit claimed in GST returns for the period from July 2017 to March 2018. However, the company has stated that there is no material impact on its financials or operations. The management plans to pursue an appeal with the Appellate Authorities or consider other options in response to this order. This situation is worth monitoring for any developments that may affect the company's outlook.