NTPC Challenges Rs 41.8 Crore Service Tax Notice

8 Jan 2024 , 12:52 PM

NTPC stock traded flat on the National Stock Exchange on January 8 after the company received a service tax notice of Rs 41.8 crore, which it intends to challenge.

At the time of writing, the stock was at Rs 316.50, reflecting a 0.49% increase from the previous close.

The service tax notice includes demands for service tax, interest, and penalty for the period between April 2013 and March 2017, issued by Patna Commissioner, CGST, as mentioned in a regulatory filing.

NTPC stated that the order’s impact on financials or operations would be immaterial, and the company plans to file an appeal before the tribunal within the prescribed timeline.

On January 7, the company reported receiving demand orders totaling Rs 100.80 crore for GST, interest, and penalty from various state governments, including Delhi, Uttar Pradesh, Andhra Pradesh, Bihar, Chhattisgarh, Maharashtra, and Gujarat.

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