Olympic Cards Limited filed an intimation with the Bombay Stock Exchange regarding the outcome of a Goods and Services Tax (GST) appeal.
The company's appeal was heard by the Deputy Commissioner (ST) Appeals, Chennai North, Chennai - 600006. The proceedings reference is Appeal No. & Year: AP/GST/20/2025. The order was dated August 19, 2026.
The appeal was ALLOWED, resulting in a reduction of the company's GST liability by a total amount of ₹2,17,22,955 (₹2.17 crore) for the financial year 2018-19.
The detailed breakdown of the allowed amount is as follows:
IGST Component:
- Tax: ₹21,24,079
- Interest: ₹11,17,177
- Penalty: ₹2,12,408
CGST Component:
- Tax: ₹96,22,112
- Interest: ₹29,50,322
- Penalty: ₹5,62,211
SGST Component:
- Tax: ₹96,22,112
- Interest: ₹29,50,322
- Penalty: ₹5,62,211
The disclosure also states that orders on other appeals filed by the company are still pending. The pending demands are:
- Goods & Services Tax for financial year 2018-19: ₹100.07 Lakhs
- Goods & Services Tax for financial year 2018-19: ₹28.30 Lakhs
- Income Tax Act, 1961 for Financial year 2012-13: ₹22.35 Lakhs
- Income Tax Act, 1961 for Financial year 2012-13: ₹30.92 Lakhs
- Income Tax Act, 1961 for Financial year 2013-14: ₹17.62 Lakhs
The letter was signed by Dr. S. Kuppan, Company Secretary & Compliance Officer (F13298), and requests the exchange to bring this information to the attention of its members.