RITES Limited has received an appellate order from a Gujarat tax authority, granting the company relief of Rs 38,30,49,704 on a demand that had been raised for FY 2019-20.
The company disclosed this under Regulation 30 on October 04, 2026. The order itself was passed on September 30, 2026 by the Deputy Commissioner of State Tax (Appeal-1), Division-1, Ahmedabad, Gujarat, and was received by the company on October 03, 2026.
The Background
The case goes back to a demand order that the State Tax Officer had issued against RITES for FY 2019-20. The demand covered tax, interest and penalty.
RITES had earlier filed an appeal against this demand order. At the time of filing the appeal, the company had made a pre-deposit of Rs 1,93,00,013 as required under the applicable law.
The disclosure on October 04, 2026 is a follow-up to an earlier letter dated September 02, 2024, filed under Regulation 30 read with sub-para 20 of Para A of Part A of Schedule III of SEBI Listing Regulations.
What The Order Says
The Deputy Commissioner of State Tax (Appeal-1), Division-1, Ahmedabad has allowed the appeal filed by RITES. The original demand order issued by the State Tax Officer has been partially set aside.
As a result, relief of Rs 38,30,49,704 has been granted to the company. This relief covers the tax, interest and penalty that were part of the FY 2019-20 demand.
After this order, and subject to applicable law, RITES has no further tax, interest or penalty liability under the said demand order.
Key Details At A Glance
| Particular | Details |
|---|---|
| Authority | Deputy Commissioner of State Tax (Appeal-1), Division-1, Ahmedabad, Gujarat |
| Demand Pertaining To | FY 2019-20 |
| Nature of Demand | Tax, interest and penalty |
| Order Date | September 30, 2026 |
| Date Order Received | October 03, 2026 |
| Relief Granted | Rs 38,30,49,704 |
| Pre-Deposit Made Earlier | Rs 1,93,00,013 |
| Further Liability | Nil |
The filing was digitally signed by Nikhil Agarwal, Company Secretary and Compliance Officer of RITES Limited, on October 04, 2026 at 17:06 IST.