Chetana Education Limited — Others, 12-12-2024: Action(s) initiated or orders passed

Chetana Education Limited has received a summons under Section 70 of the CGST Act, 2017, relating to an alleged tax liability of ₹2.28 crore along with applicable interest and penalties. The company intends to challenge this order, asserting that it has already reversed the unutilized input tax credit (ITC) associated with exempt educational supplies, thus believing no tax benefit was derived. This situation is not expected to materially impact the company's financials or operations. Investors may view this as a potential risk, though the company's proactive stance may mitigate any adverse outcomes.