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 to Rs. 0 (incl. penalty) against an original demand of Rs. 89,63,361. The order was received by the company’s Tax Department and subsequently by the Company Secretary on March 23, 2026. The action does not have a quantifiable impact on the company’s financial, operational, or other activities.
Arpita Kapoor, Company Secretary and Compliance Officer, confirmed the receipt of the order.
Source:
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.
The information provided is for general informational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any securities. Readers are advised to rely on their own assessment and judgment and consult appropriate financial advisers, if required, before taking any investment-related decisions.