Diligent Media Corporation Limited — Important, 14-01-2026: Disclosure of material issue

Diligent Media Corp (#DNAMEDIA) has received a GST demand order for ₹33.90 Cr (including interest & ₹10.32 Cr penalty) for FY2018-19. The demand relates to alleged GST on the assignment of leasehold rights, which tax authorities consider a taxable supply of services. DNAMEDIA disputes this, arguing the transfer of leasehold rights amounts to a "transfer of land" and not a taxable "supply" under GST laws. The company will consult legal counsel for further action. This order poses a potential financial impact of ₹33.90 Cr if it stands. #GST #CorporateNews