State-run Indian Railway Finance Corporation Limited (IRFC) on Wednesday (April 16) said it has secured interim relief in its GST dispute, as the Madras High Court set aside a demand order of ₹230.55 crore issued by the Assistant Commissioner (Sales Tax). The matter now stands remanded for fresh consideration.
“The Hon’ble High Court of Judicature at Madras has allowed the writ petitions filed by the company and set aside impugned order dated 04.12.2024 of the Assistant Commissioner (ST) of demand order for an aggregate amount of Rs 230.55 crore and the matter is remanded to the respondent for fresh consideration,” according to a stock exchange filing.
The development follows a writ petition filed by IRFC challenging the original order dated December 4, 2024. In its ruling, the high court directed the company to file a detailed reply with supporting documents within four weeks of receiving a copy of the court’s order.
Once the company files its objections, the tax authorities will have to provide a 14-day notice for a personal hearing. The court further instructed that any subsequent order must be passed after duly hearing the company and must be in accordance with the law.
“The Hon’ble High Court has also directed the company to submit its reply/objection within a period of four (4) weeks from the date of receipt of a copy of this order along with supporting documents/material,” it said.
With these directions, the writ petition has been disposed of, and the connected miscellaneous petition has also been closed. There are no costs imposed on either side.
