Delhivery Subsidiary Ecom Express Faces GST Demand, Plans Appeal

The latest announcement is out from Delhivery Limited ( (IN:DELHIVERY) ).

Delhivery Limited has disclosed that its subsidiary Ecom Express Limited has received an order from the Office of the Excise and Taxation Officer, Panipat, under Section 73 of the CGST/Haryana GST Act, 2017, for the financial year 2021-22. The order confirms a tax demand of ₹1.38 crore, interest of ₹1.04 crore, and a penalty of about ₹0.14 crore, arising from the disallowance of input tax credit. Ecom plans to appeal the order before the appellate authority, and Delhivery has indicated that the demand is not expected to have any material impact on the financials, operations, or other activities of either Ecom or the parent company, suggesting limited immediate implications for shareholders and business continuity.

More about Delhivery Limited

Delhivery Limited is a logistics and supply chain services company, with operations including express parcel transportation and related services through its subsidiaries such as Ecom Express Limited. The company focuses on serving the Indian market, working with a range of customers across e-commerce and other sectors that rely on efficient, technology-enabled delivery networks.

Average Trading Volume: 103,951

Technical Sentiment Signal: Buy

Current Market Cap: 303.1B INR

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