Innovision Limited secures favorable ruling in GST dispute; penalty reduced to Rs 10,000
Innovision Limited has received a favorable order from the Additional Commissioner, Central Goods and Service Tax Commissionerate in Dehradun concerning a tax dispute. The company reported that the separate record keeping penalty under Section 122(1)(xvi) of the relevant acts has been modified and reduced to a fixed penalty of Rs 10,000/-.The order was passed under Section 74 of the Central Goods and Services Tax Act, 2017 (CGST Act) and the UKGST Act. The details regarding the past financial liabilities and the resolution status of the dispute have been disclosed by Innovision Limited.
The company's records indicated previous tax payables related to this matter. In Financial Year 2019-20, the tax payable amounted to Rs 15,70,378 under CGST and an equal amount under SGST, with penalties totaling Rs 31,40,756 each, resulting in a total liability of Rs 94,22,268 across both heads. For FY 2023-24, the tax payable was reported as Rs 3,33,98,202 under both CGST and SGST, with penalties amounting to Rs 6,67,96,404 each, leading to a combined liability of Rs 20,03,89,212.
Regarding the litigation itself, Innovision Limited reported that the dispute was initiated on March 20, 2026, and the company received the order on March 30, 2026. The current status of the litigation is reported as Decided in Favour of the Appellant Company, Innovision Limited.
A summary of the key financial liabilities and outcomes from the dispute resolution process are provided below:
| Particulars | Financial Year/Date | Tax Payable (CGST/SGST) | Penalty Imposed (Section 122(1)(xvi)) | Total Liability |
|---|---|---|---|---|
| FY 2019-20 | Rs 15,70,378 | Rs 31,40,756 | Rs 94,22,268 | |
| FY 2023-24 | Rs 3,33,98,202 | Rs 6,67,96,404 | Rs 20,03,89,212 |
The company stated that there are no adverse financial implications on Innovision Limited due to the penalty structure. Furthermore, management assessed that the outcome of this litigation or dispute is not reasonably expected to have any material financial impact on the Company.
INNOVISION Stock Price Movement
Shares of Innovision Limited are edging higher to ₹288.5 as of 3:06 PM today, posting a gain of 1.16% in live trading. The stock trades on strong interest with 92,778 shares transacted, remaining significantly above its 52-week low of ₹274.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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