Hinduja Global Solutions Limited (HGS) has submitted a regulatory disclosure pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, regarding a Service Tax order received by its subsidiary, IndusInd Media and Communications Limited (IMCL).
Authority Details
The order was issued by The Principal Commissioner, Central Goods and Services Tax and Central Excise, Nagpur-I Commissionerate.
Order Details
- Nature of Action: Service Tax Order for FY 2016-17
- Financial Demand: Recovery of Service Tax demand of ₹76.50 crore, plus equivalent amount of penalty and interest thereon
- Date of Receipt: August 4, 2026
- Alleged Violation: Short payment/non-payment of Service Tax for FY 2016-17
Company Response and Context
IMCL has stated that it had neither received notice nor the Service Tax Order regarding the alleged short payment/non-payment of Service Tax for FY 2016-17. The company claims it did not have the opportunity to respond to the notice and demand letter earlier because these communications were sent by the CGST & Central Excise Department to an address that was vacated by IMCL approximately two decades ago.
Current Status and Next Steps
IMCL is currently examining the matter and will take up the issue with the relevant Authority, including pursuing appropriate legal steps.
Financial Impact
The disclosure explicitly states that the financial impact is not quantifiable in monetary terms at this stage, as the company is contesting the order and claims no prior receipt of communications.
Signatory and Timing
The disclosure was signed by Narendra Singh, Company Secretary (F4853), on August 5, 2026 at 16:34:03. The event occurred on August 4, 2026 at 5:05 pm.