RITES gets ₹38 crore relief after Gujarat tax authority partially sets aside FY20 demand
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- ✓RITES Ltd received ₹38 crore relief after the Gujarat tax authority partially set aside a demand for the 2019-20 financial year.
- ✓The company said the order was received on October 3.
- ✓This relief covers tax, interest, and penalties.
Story at a Glance
- Category
- BUSINESS
- Reported By
- CNBC TV18
- Reading Speed
- 3 Minute(s)
- Market Focus
- India Economy
On Thursday (October 1), shares of Rites Ltd ended at ₹209.70, up by ₹0.35, or 0.17%, on the BSE.
Engineering firm RITES Ltd on Sunday (October 4) said it has received relief of ₹38.30 crore against a demand comprising tax, interest and penalty for financial year 2019-20, after the appellate authority partially set aside the demand order.
The company said the order was passed on September 30 by the Deputy Commissioner of State Tax (Appeal-1), Division-1, Ahmedabad, Gujarat, and was received by RITES on October 3.
"...we hereby inform you that RITES has received an Order dated September 30, 2026, passed by the Hon’ble Deputy Commissioner of State Tax (Appeal-1), Division-1, Ahmedabad, Gujarat, in respect of the appeal filed by the company against the demand order pertaining to FY 2019-20. The said order was received by the company on October 03, 2026.
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