NTPC opens flat after getting Rs 41.8- crore GST demand notice

The company plans to challenged the order and said there ‘is no material impact on financials or operations from the order’

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The NTPC stock was trading flat on the National Stock Exchange on January 8 morning after the state-owned power company received a Rs 41.8 crore service tax notice, which it plans to challenge.

At 9.20 am, the stock was trading at Rs 314.60, down 0.11 percent from the previous close.

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NTPC  received a notice for collection of service tax, interest and penalty from Patna Commissioner, CGST for the April 2013-March 2017 period, the company said in a regulatory filing.

The order would have no material impact on financials or operations of the firm and it will “file an appeal before the tribunal of the applicable jurisdiction against the said orders within the prescribed timeline”.

Also read: Narrative on NTPC stock keeps changing on market’s whims, says Kotak Institutional Equities

On January 7, the company reported receiving demand orders for GST, interest, and penalty worth a total of Rs 100.80 crore from Delhi, Uttar Pradesh, Andhra Pradesh, Bihar, Chhattisgarh, Maharastra and Gujarat governments.

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