Info Edge Limited Receives Order Passed by Office of the Superintendent of Central Tax, Range-Bed-2, East Division-2, GST East Commissionerate, Bengaluru, Karnataka
Info Edge (India) Limited received the Order passed by office of the Superintendent of Central Tax, Range-Bed-2, East Division-2, GST East Commissionerate, Bengaluru, Karnataka - 560071. Nature and details of the action(s) taken, initiated or order(s) passed: Order issued under Section 74 of the CGST/KSGST Act, 2017 for Fiscal Year 2017-18 and Fiscal Year 2018-19 for tax demand of INR 264,702 with applicable interest (not quantified) and penalty of INR 264,702. Date of receipt of direction or order: January 03, 2025.
Details of the violation(s) /contravention(s) committed or alleged to be committed: The demand order has been received against the GST input tax credit availed by the Company amounting to INR 264,702 for the invoices issued by a vendor who had not furnished Form GSTR-3B. The Order is appealable and the Company is reviewing the Order and evaluating the next steps in the matter. There is no material impact on financials, no impact on operations or other activities of the Company.
Info Edge (India) Limited is an India-based company that is engaged in operating multiple Internet-based services through its various Web portals and mobile applications. Its segments include Recruitment Solutions, Real State- 99 acres, and Others. The Recruitment Solutions segment consists of Naukri and all other allied businesses, which provides hiring solutions for both business-to-business (B2B), and business-to-customers (B2C). The real State- 99 acres segment is focused on property listings, builders and brokers branding and visibility through micro-sites, home page links, and banners servicing real estate developers, builders and brokers. Other segment comprises Jeevansathi and Shiksha services. It operates in service verticals, which includes recruitment solutions through its brands naukri.com, iimjobs.com, hirist.com, ambitionbox.com, bigshyft.com, jobhai.com; in matrimonial services through its brand jeevansaathi.com, and in education services through its brand shiksha.com.
This super rating is the result of a weighted average of the rankings based on the following ratings: Valuation (Composite), EPS Revisions (4 months), and Visibility (Composite). We recommend that you carefully review the associated descriptions.
Investor
Investor
This super composite rating is the result of a weighted average of the rankings based on the following ratings: Fundamentals (Composite), Valuation (Composite), EPS Revisions (1 year), and Visibility (Composite). We recommend that you carefully review the associated descriptions.
Global
Global
This composite rating is the result of an average of the rankings based on the following ratings: Fundamentals (Composite), Valuation (Composite), Financial Estimates Revisions (Composite), Consensus (Composite) and Visibility (Composite). The company must be covered by at least 4 of these 5 ratings for the calculation to be carried out. We recommend that you carefully review the associated descriptions.
-
Quality
Quality
This composite rating is the result of an average of rankings based on the following ratings: Returns (Composite), Profitability (Composite) and Quality of Financial Reporting (Composite), and Financial Health (Composite). The company must be covered by at least 2 of these 3 ratings for the calculation to be performed. We recommend that you carefully read the associated descriptions.
ESG MSCI
ESG MSCI
The MSCI ESG score assesses a company’s environmental, social, and governance practices relative to its industry peers. Companies are rated from CCC (laggard) to AAA (leader). This rating helps investors incorporate sustainability risks and opportunities into their investment decisions.
Info Edge Limited Receives Order Passed by Office of the Superintendent of Central Tax, Range-Bed-2, East Division-2, GST East Commissionerate, Bengaluru, Karnataka
