High Court overturned GST Demands against Max Ventures and Industries Limited:

High Court overturned GST Demands against Max Ventures and Industries Limited The High Court has quashed and set aside orders issued by GST Authorities demanding tax, interest, and penalties from Max Ventures and Industries Limited (MVIL), which ceased to exist as a result of its merger with the Company on July 31, 2023, and has allowed legal proceedings against the Company. The impunged orders from the Noida GST Department involved an aggregate demand of tax and interest, along with penalties of 3,31,06,559 for FY 2017-18, 2018-19, and 2019-20 under Section 73(9) of the GST Act, 2017. "The Company strongly feels it maintains strong legal and factual grounds and is fully prepared to deal with and contest any future proceedings, should they be initiated by the authorities against the Company as permitted by the Hon'ble Court," Max Estates stated in its regulatory filing with the exchange.