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Devyani International Ltd. ( (IN:DEVYANI) ) just unveiled an announcement.
Devyani International Ltd. has disclosed that it received a demand order from the Assistant Commissioner of Central Tax, Karnataka, under Section 74 of the Central Goods and Services Tax Act, 2017, covering financial years 2018-19 to 2022-23. The order raises a total demand of Rs 5.42 million, including tax of Rs 1.51 million and penalty of Rs 3.91 million, linked to alleged short reversal of input tax credit on exempt supplies and alleged incorrect availment of input tax credit on inward supplies. The company has stated that the order does not have a material impact on its financial, operational or other activities, and it is currently evaluating the demand and plans to pursue available legal remedies, including an appeal, signalling a contained compliance issue rather than a disruption to ongoing operations.
More about Devyani International Ltd.
Devyani International Limited operates in the food and beverage/restaurant sector and is part of the RJ Corp group, with a corporate office in Gurugram, Haryana. The company is a listed entity on Indian stock exchanges and is subject to SEBI’s listing and disclosure regulations, reflecting its position as a significant player in the organised food services industry.
Average Trading Volume: 189,105
Technical Sentiment Signal: Sell
Current Market Cap: 175.6B INR
Learn more about DEVYANI stock on TipRanks’ Stock Analysis page.