15-Oct-2026      16:51

Praxis Home Retail must pass on or deposit Rs 3.68 crore plus interest following GSTAT ruling

Praxis Home Retail Limited announced that the GST Appellate Tribunal (GSTAT) has directed the company to pass on or deposit a profiteered amount of Rs 3,67,88,027, along with interest at 18%, stemming from a dispute related to the alleged failure to pass on GST rate reductions between November 15, 2017, and September 30, 2019. The order, issued October 14, 2026, follows an investigation by the Director General of Anti-Profiteering, and requires Rs 21,200 to be passed on to an identifiable complainant, with the remaining Rs 3,67,66,827 to be deposited into Consumer Welfare Funds; Praxis Home Retail is currently seeking legal advice and considering an appeal against the ruling, which could impact the company's financials by the amount stated plus applicable interest.

News source: Capital Market - Live News