Smartlink Holdings Limited has received an order from the Superintendent of Central Tax (ESD8 Range), South Division-8, Bengaluru, regarding a GST demand of INR 65,948 under the reverse charge mechanism (RCM). The order pertains to GST payable on payments made to the Electronic City Industrial Township Authority (ELCITA) for Safety and Traffic Management and CISF deployment services.
Additionally, the company is liable to pay interest under Section 50 of the CGST Act, 2017, along with a penalty under Section 74(9). The tax authorities have confirmed that the total payment of INR 3,66,377.5 made to ELCITA qualifies as a taxable service under Section 7 of the CGST Act, 2017.
Despite the order, Smartlink Holdings clarified that there will be no impact on its financial, operational, or other business activities. The GST demand remains a relatively small sum, and the company continues to operate efficiently without disruptions.
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While regulatory updates are important, investors should also consider Smartlink’s valuation outlook. According to InvestingPro’s Fair Value feature, Smartlink Holdings has an estimated intrinsic value of INR 272.6 per share, reflecting a substantial 56.2% upside from its current market price (CMP) of INR 147.5.
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