RITES tax relief amounted to Rs 38.30 crore after an appellate authority in Gujarat allowed the company's appeal against a demand relating to FY 2019-20, according to its BSE filing dated October 4, 2026. The relief covers tax, interest and penalty under the demand order.

The Deputy Commissioner of State Tax (Appeal-1), Division-1, Ahmedabad, Gujarat, passed the appellate order on September 30, 2026. RITES received it on October 3, 2026, before informing the stock exchanges the following day.

The authority allowed the company's appeal and partially set aside the demand order issued by the State Tax Officer. RITES disclosed the exact relief as Rs 38,30,49,704. The proceedings concerned the tax demand for FY 2019-20, rather than a demand for the current financial year.

Pre-deposit and remaining liability

RITES said it had made a pre-deposit of Rs 1,93,00,013 when filing the appeal. In its disclosure on the financial and operational impact, the company stated that, subject to applicable law, there was no further tax, interest or penalty liability pursuant to the demand order.

The filing therefore reports two distinct monetary amounts:

  • Relief granted through the appellate order: Rs 38,30,49,704, covering the demand comprising tax, interest and penalty.
  • Pre-deposit made at the appeal stage: Rs 1,93,00,013.

The pre-deposit is separately identified in the disclosure and should not be read as an additional relief amount. The filing does not specify a refund amount or a refund timetable for that deposit.

Disclosure follows earlier exchange communication

The October 4 filing follows RITES' earlier letter dated September 2, 2024. The company submitted the latest details under Regulation 30 of the SEBI Listing Regulations, along with the prescribed annexure covering the authority, order, receipt date and financial impact.

Addressed to both BSE and the National Stock Exchange, the communication identifies RITES by BSE scrip code 541556 and NSE symbol RITES. Company Secretary and Compliance Officer Nikhil Agarwal signed the disclosure. The stated absence of further liability relates specifically to the demand order addressed by this appeal.