TCI Express Limited — Important, 24-12-2024: Disclosure of material issue

A demand order has been issued to TCI Express for the recovery of ₹51.36 crore under the Goods and Service Tax Act, concerning the period from FY 2017-18 to 2021-22. The company believes that this assessment arises from a misinterpretation of GST provisions and maintains a strong case for appeal. Legal and tax counsel support the view that the claims made against the company are untenable, indicating no anticipated adverse financial impact. The company plans to contest the order and will keep the stock exchanges updated on any significant developments. Investors should watch this situation closely, as the resolution may have implications for the company's financial outlook.