Updater Services Limited (UDS) received a GST order for ₹2,89,373 from the Sales Tax Officer in Delhi on August 17, 2024. The company disclosed this information to stock exchanges on August 18, 2024, in compliance with SEBI regulations.
The shares of Updater Services Limited (UDS) were trading at ₹335.20 up by ₹15.20 or (4.75 per cent) on NSE at 9:55 am on Monday.
The order, issued under section 73, stems from a reconciliation difference in output tax and excess input tax credit claims. UDS contends that the order was passed without considering their submitted response to the initial notice.
The company is exploring legal options, including filing an appeal with the appellate authority. UDS believes the order lacks merit and expects no significant financial impact from this case.