IRB
Infrastructure & Developers fell on Tuesday after the
Commissioner of Service Tax, Mumbai,passed an order, which has
raised demand aggregating to Rs 604 million, penalty of same amount
and interest on account of service tax payable on toll collected by
some of its subsidiaries. However, the company contradicted on the
aforesaid order and said, "We would like to state that no service
tax is payable on toll paid by users of roads, including those
constructed by the SPVs under a BOT agreement, as clarified by
Ministry of Finance vide their circular issued on Feb. 22, 2012 to
all commissioners of service tax and other field officers.We
believe that the demand is erroneous. We will therefore file an
appeal against these orders before the competent authority to seek
relief." 
Shares ofthe companyare trading at Rs
122.40, down Rs 2.25, or 1.81% at the Bombay Stock Exchange (BSE)
on Tuesday at 12:52 p.m.The scrip has touched an intra-day high of
Rs 124 and low of Rs 121. The total volume of shares traded at the
BSE is 283,589.In the earlier session, the shares lost 3.11%, or Rs
4, at Rs 124.65. Currently, the stock is trading down 41.76% from
its 52-week high of Rs 210.15 and above 22.09% over the 52-week low
of Rs 100.25.
What's Hot?
Post a Comment