Gujarat State Petronet Limited Receives Income Tax Rectification Order for Assessment Year 2024-25
Gujarat State Petronet Limited confirmed the receipt of a rectification order related to its income tax assessment for the year 2024-25, corresponding to the Financial Year 2023-24.The company reported that it received the rectification order under Section 154 of the Income Tax Act, 1961, on April 10, 2026. This order was issued by the Assistant Commissioner of Income Tax, Gandhinagar Circle, Gandhinagar.
The rectification order dated April 9, 2026, corrected the assessed income figure. Specifically, the order rectified the assessed income in the tax computation to Rs.1,435 crores, changing the previous figure of Rs.1,683 crores for AY 2024-25 [FY 2023-24].
Key details regarding the directive are presented below:
| Particulars | Details |
|---|---|
| Authority from whom communication received | Assistant Commissioner of Income Tax, Gandhinagar Circle, Gandhinagar |
| Nature and details of the action(s) taken or order(s) passed | Rectification order u/s 154 of the Income Tax Act, 1961 dated 09th April, 2026 rectifying the assessed income in the tax computation at Rs.1,435 crores instead of Rs.1,683 crores for AY 2024-25 [FY 2023-24] |
| Date of receipt of direction or order | The rectification order u/s 154 was received by the Company on 10th April 2026 |
| Impact on financial, operation or other activities | Financial Impact will be NIL |
The company stated that there were no details of violations or contraventions committed or alleged to be committed. Consequently, the financial impact on the listed entity was reported as NIL.
GSPL Stock Price Movement
Today, Gujarat State Petronet Limited shares edged higher to close at ₹241.37, gaining 0.68%. Trading volume for the stock reached 864,613 shares, contributing to the positive close for the session.Source:
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