Music Broadcast Ltd. Receives Rectification Order Reducing Tax Demand to Rs. 0
Music Broadcast Ltd. announced on March 23, 2026, that it received a Rectification Order from the Office of the Deputy Commissioner, Lucknow, Uttar Pradesh, significantly reducing a previously assessed tax demand. The Rectification Order, dated March 19, 2026, lowered the demand to Rs. 0 (including penalty), from the original demand of Rs. 89,63,361.The order pertains to a Demand Order initially issued under Section 73 of the IGST/CGST/SGST Act, 2017, for the financial year 2021-22. The company had previously filed a rectification application regarding the initial order.According to the details of the Rectification Order, the authority reduced the amount...