Symphony Limited Receives Favorable GST Order, Demand Reduced by 99%
Symphony Limited received a favorable GST order reducing the demand for FY 2017-18 from ₹2,64,93,374 to ₹28,162. The significant reduction includes the complete dropping of interest liabilities amounting to ₹2,64,65,208. The company stated there is no material impact on its operations.
The company explicitly stated that the order has no material impact on its financial, operational, or other activities, despite the large reduction in the demand amount.
The company received a significantly favorable order from the GST department, drastically reducing the demand and dropping the interest liability. This is a positive outcome for the company.
Symphony Limited announced on April 23, 2026, that it has received a favorable order from the Additional Commissioner Grade -2 (Appeals), Judicial Division -III, State Tax, Lucknow, U.P., concerning its GST assessment for the financial year 2017-18. The company was previously issued a demand of ₹2,64,93,374/-
Following the appeal, the GST department has significantly reduced the total demand, including GST, penalty, and interest, to ₹28,162/-. Notably, the entire interest liability of ₹2,64,65,208/-, which was raised in a previous order dated February 22, 2024, has been dropped by the department.
Symphony Limited has stated that this order has no material impact on the company's financials, operations, or other activities.
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Symphony Limited filed this with the NSE as a statutory disclosure, categorised under regulatory impact. It is a primary document, not a recommendation, and the desk marks it low impact, the band that almost never moves a portfolio on its own.
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