STL Networks Receives ₹7.69 Crore Demand Order from MP State Tax Authority
STL Networks Limited received a demand order for ₹7.69 crore from the Madhya Pradesh State Tax Authority. The demand includes tax, interest, and penalty for FY 2021-22 due to GST credit mismatch. The company believes the demand is not maintainable and plans to appeal, expecting no significant financial impact.
The company has assessed that the demand is not maintainable and does not foresee any relevant impact on its financials, operations, or other activities.
The company has received a demand order from a tax authority, which is generally a negative development.
STL Networks Limited has received a demand order from the Office of the Deputy Commissioner of State Tax, Madhya Pradesh. The order pertains to a demand of ₹7.69 crore, which comprises ₹4.11 crore in tax demand, ₹3.17 crore in interest, and ₹0.41 crore in penalty.
The demand order, received on December 24, 2025, relates to the financial year 2021-22. The primary reason cited for the GST demand is a mismatch in Input Tax Credit (ITC) availed by the company in GSTR-3B versus the details reported by suppliers in GSTR-2A.
STL Networks Limited has stated that, based on its assessment, the demand is not maintainable. The company is evaluating all available options, including filing an appeal against the order. STL Networks does not foresee any significant impact on its financials, operations, or other activities due to this demand.
It is noted that the demand notice was issued in the name of Sterlite Technologies Limited, and the case details relate to the Global Services Business vertical that was demerged into STL Networks Limited effective March 31, 2025.
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