The High Court has quashed and set aside the orders passed by GST Authorities demanding tax, interest, and penalties against Max Ventures and Industries Limited (MVIL), which had ceased to exist upon its merger with the Company effective July 31, 2023, and allowing proceedings against the Company in accordance with law.
The impugned orders from GST Department, Noida, involved an aggregate demand of tax, interest, and penalties amounting to ₹ 3,31,06,559/- pertaining to FY 2017-18, 2018-19, and 2019-20 under Section 73(9) of the GST Act, 2017.
“The Company firmly believes it maintains strong legal and factual grounds and is fully prepared to address and contest any future proceedings, should they be initiated by the authorities against the Company as permitted by the Hon’ble Court,” Max Estates said in their regulatory filing before the exchange.
