Updater Services Limited has received an order from the office of the Deputy commissioner of Commercial Taxes, LUT-DC3 Tamil Nadu, for an amount of INR 4,160,998/- under section 73 OF TNGST Act for the year 2018-19. Based on the company's assessment, the order has been passed without considering the response which the company has submitted against the notice. The company is in the process of exploring all legal options including filing appeal before the Appellant authority and the company is hopeful that there will be no significant financial impact in this case.

The order is dated 24th April, 2024 (Wednesday) has been uploaded in the GSTN Portal on 24th April, 2024. The basis of order is reconciliation difference for Excess utilization of Input tax credit and Trade payable difference. Based on the company's assessment, the Order is devoid of merits and the financial amount is expected to be NIL.

The company is exploring all legal options including filing appeal before the Appellant authority.