NSE/BSE Codes: NSE: INSPIRISYS, BSE: 532774

Summary of Key Information:

Nature of Event / Disclosure:

Regulatory disclosure under SEBI LODR Regulation 30 regarding favorable outcome of material litigation. The Kerala Value Added Tax Appellate Tribunal, Ernakulam, dismissed tax demands against the company.

Involved Parties / Authorities:

  • Joint Commissioner (Intelligence), State Goods and Services Tax Department, Ernakulam
  • Kerala Value Added Tax Appellate Tribunal, Ernakulam
  • Joint Commissioner (Appeals)-III, Ernakulam

Date / Timeline of Event:

  • August 14, 2023: Initial intimation of pending material litigations/disputes (Ref. No. ISL/SS/SE/32/2023-2024)
  • Financial Year 2016-17: Period pertaining to the tax dispute
  • June 22, 2021: Order passed by Joint Commissioner (Appeals)-III, Ernakulam in Appeal No. KVATA 447/2020
  • June 17, 2026: Matter heard by KVAT Appellate Tribunal, Ernakulam
  • August 10, 2026 at 02:12 P.M. (IST): Final order received by the Company
  • August 10, 2026: Disclosure filed with exchanges

Brief Description of Outcome / Dispute:

An appeal was filed by Joint Commissioner (Intelligence), State Goods and Services Tax Department, Ernakulam, with Kerala Value Added Tax Appellate Tribunal against the order passed by Joint Commissioner (Appeals)-III, Ernakulam. The Tribunal dismissed the tax demands amounting to ₹109 lakhs.

Impact of Outcome:

Financial Impact:

The dismissal of tax demands amounting to ₹109 lakhs (₹1.09 crores) eliminates a potential liability that would have affected the company's financial position. No penalty or compensation is payable by the company.

Operational / Business / Strategic Impact:

No material operational, business, or strategic impact disclosed. The favorable outcome resolves a longstanding tax dispute.

Other Implications:

The successful defense against the tax claim may positively impact investor confidence and eliminates uncertainty regarding this specific tax liability.

Next Steps / Required Actions:

No further actions or next steps are required as the matter has been conclusively dismissed by the Tribunal.