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Aksh Optifibre Limited ( (IN:AKSHOPTFBR) ) has shared an update.
Aksh Optifibre Limited has disclosed that it received a demand order from the State Tax authorities in Rajasthan for the 2021–22 tax period, raising a goods and services tax (GST) demand of Rs 5.73 crore plus applicable interest and penalties. The demand arises from audit proceedings and primarily centres on interpretations of the reverse charge mechanism, interest computation, input tax credit, and a substantial technical discrepancy in GSTR-9 filings, of which about Rs 4.79 crore is linked to a rectifiable system-related issue. The company, guided by professional advice, plans to pursue rectification and legal remedies and states that, supported by its compliance framework, it does not currently foresee any material impact on its operations from this tax demand.
More about Aksh Optifibre Limited
Aksh Optifibre Limited is an India-based company operating in the optical fibre and telecommunications-related products and services space, with manufacturing and registered offices in Rajasthan and New Delhi and its equity shares listed on NSE and BSE.
Average Trading Volume: 47,210
Technical Sentiment Signal: Sell
Current Market Cap: 1.07B INR
For a thorough assessment of AKSHOPTFBR stock, go to TipRanks’ Stock Analysis page.