Symphony Limited Receives VAT Order from Lucknow Authorities
Symphony Limited confirmed the receipt of an order from the VAT Authorities concerning the financial year 2016-17. The company's announcement detailed the outcomes of the tax review process involving the CST/ VAT department in Lucknow, Uttar Pradesh.The order was received by the company on April 09, 2026. This development followed earlier correspondence from the company dated June 05, 2024, regarding the matter.
The central issue pertains to an order passed by the VAT department in Lucknow, Uttar Pradesh, dated March 28, 2026, covering the period of the Financial Year 2016-17. The original concerns raised related to an alleged incorrect enhancement in turnover, the disallowing of credit notes, and the failure to consider monthly payments.
Following the submission of an appeal by the Company, the authority reportedly reviewed the appeal positively. This review resulted in a reduction of the total tax liability.
The financial impact resulting from the VAT department's review is detailed below:
| Tax Component | Amount (in Rupees) |
|---|---|
| VAT amount | 12,563/- |
| CST amount | Nil |
| Total | 12,563/- |
The company stated that apart from the specified amount mentioned in the tax liability details, there is no material impact on the financials, operations, or other activities of Symphony Limited. The firm noted that it will pay the amount within the prescribed time limit.
SYMPHONY Stock Price Movement
Today, Symphony Limited shares edged higher to close at ₹759.5, gaining 2.52% on the back of a robust session. The stock saw significant investor interest, with the equity trading on a volume of 105,198 shares.Source:
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