LTIMindtree Gets Rs 206-Crore GST Demand From Mumbai Authorities

LTIMindtree Ltd. has received a goods and services tax demand of Rs 206 crore from the authorities in Mumbai.

The tax demand includes Rs 9.1 crore in penalty and is related to the denial of zero-rated supply, thereby leading to demand for output IGST and rejection of refunds granted, according to an exchange filing on Wednesday.

The order was received from the Department of Goods and Service Tax, Office of the Deputy Commissioner of State Tax in Mumbai.

The company said the GST demand amount, interest and penalties levied are unjustified and will take appropriate legal action against the order in consultation with its advisors.

There is no likely material impact on the company’s financials or operations due to the order, it said.