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CL Educate Ltd. ( (IN:CLEDUCATE) ) has shared an announcement.
CL Educate has disclosed that its former wholly owned subsidiary, CL Media Private Limited, now merged into the parent company, has received an order from the Office of the Assistant Commissioner of Central GST, Delhi South, raising a tax and penalty demand of Rs 15.46 crore for alleged excess availment of input tax credit during FY2018-19 to FY2021-22. The company plans to appeal the order in consultation with its tax advisors, and has indicated that, should the liability continue to subsist, it will be disclosed as a contingent liability in its financial statements, signaling a potential but currently uncertain financial impact for shareholders and other stakeholders.
More about CL Educate Ltd.
CL Educate Limited operates in the education and test-preparation industry, offering coaching, educational content, and related services, with a focus on students and professional aspirants in India. The company has expanded through subsidiaries and mergers, including the integration of CL Media Private Limited in March 2022.
Average Trading Volume: 6,698
Technical Sentiment Signal: Sell
Current Market Cap: 4.69B INR
For an in-depth examination of CLEDUCATE stock, go to TipRanks’ Overview page.