Hexaware Technologies Wins Appellate Order, GST Demand of INR 15.13 Crore Set Aside for FY2020-21

Hexaware Technologies has secured a favorable ruling from the Appellate Authority, which has set aside a GST demand of INR 15.13 crore pertaining to FY2020-21. The company received the communication from the appellate authority on May 13, 2026, and disclosed the development to stock exchanges on May 14, 2026, pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Appellate Order Details

The favorable order was passed under Section 107 of the Tamil Nadu Goods and Services Tax / Central Goods and Services Tax Act, 2017. The Appellate Authority set aside the original order issued by the Department of Goods and Service Tax, State Tax Officer, Chennai, which had been the subject of intimations filed on February 28, 2025 and August 19, 2025. The following table summarises the key details of the appellate order:

Parameter:	Details
Authority:	Department of Goods and Service Tax, State Tax Officer, Chennai
Appellate Provision:	Section 107 of the Tamil Nadu GST / CGST Act, 2017
Date of Communication:	May 13, 2026
Total Demand Set Aside:	INR 15.13 crore
Penalty Component:	INR 1.32 crore
Interest Component:	Applicable interest (as part of total demand)
Period in Question:	FY2020-21
Revised Demand:	NIL

Nature of the Original Dispute

The original GST demand pertained to the alleged non-payment of tax on account of non-realisation of export proceeds within the stipulated timeline during FY2020-21. The order under Section 73 of the Tamil Nadu Goods & Service Tax / CGST Act, 2017 had been issued by the Department of Goods and Service Tax, State Tax Officer, Chennai. Hexaware Technologies had subsequently filed an appeal with the appellate authority, which has now ruled in the company's favour.

Financial and Operational Impact

As a result of the appellate order, the entire demand — including interest and penalty — has been reduced to NIL. The company has stated that there is no impact on its financials or operations due to the said order. The disclosure was made in accordance with Regulation 30 of the SEBI LODR Regulations, read with SEBI Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
+0.23%	+5.12%	+2.28%	-29.70%	-36.26%	-36.51%

Hexaware Technologies , a global provider of IT solutions and services, has announced seven Stevie® Awards at the 24th edition of the annual American Business Awards® (ABA). The announcement was made on May 12, 2025, from Iselin, New Jersey, USA. The American Business Awards® celebrates outstanding achievement in innovation, growth, marketing, and leadership across industries in the United States.

This year's judging process saw more than 230 professionals worldwide evaluate over 3,700 nominations over a three-month period, with averaged scores determining the winners. Hexaware's recognition spans some of the program's most competitive categories, reflecting the company's focus on AI-first transformation, differentiated client engagement, and marketing performance.

Award Wins at a Glance

Hexaware's seven Stevie® Awards cover a broad range of categories. The following table summarises each award and its corresponding category:

Award:	Category
Gold Stevie®	Intelligent Applications Vision Film – Social Video
Gold Stevie®	Roundtables for AI Thought Leadership 2024–25 – Conferences & Meetings Event Series
Silver Stevie®	Account-based Integrated Marketing Campaign – Achievement in Sales or Revenue Generation
Silver Stevie®	Nidhi Alexander, CMO – Marketing Executive of the Year
Bronze Stevie®	Hexaware Annual Report 2024 – Best Annual Report, Privately-Owned Companies
Bronze Stevie®	Fastest-Growing Company of the Year (For 2,500+ Employees)
Bronze Stevie®	Marketing Department of the Year

Judges' Recognition Across Categories

Judges offered specific recognition for each of the seven winning entries, highlighting distinct strengths across the board:

The Gold-winning social video was recognised for its clarity and accessibility in explaining complex AI concepts.
The Gold-winning roundtables were noted for their scale—17 events across seven countries with strong C-suite attendance.
The Silver-winning account-based marketing campaign was acknowledged for the speed with which it moved from first contact to secured contracts at a major global financial institution.
Nidhi Alexander's Silver win as Marketing Executive of the Year was noted for the remarkable range and consistency of results delivered across multiple marketing functions simultaneously.
The Bronze-winning annual report was recognised for its organised structure, clarity, and design.
The Bronze win for Fastest-Growing Company cited Hexaware's NPS performance relative to industry benchmarks as a key factor.
The Marketing Department of the Year Bronze was recognised for the depth of results delivered across brand, demand, digital, and operational efficiency.

Leadership Perspectives

R. Srikrishna, CEO & Executive Director, Hexaware, commented: "Year on year, the quality of our work keeps improving—in the clients we are winning, the technology we are building, and the reputation we are earning in the market. These awards reflect that progress, and I could not be prouder of what the teams have delivered."

Nidhi Alexander, Chief Marketing Officer, Hexaware, added: "What makes this year stand out is not any single campaign or initiative. It is the fact that the team delivered across everything at once. Thought leadership, demand generation, brand building, and operational efficiency, all moving in the right direction at the same time."

Together, the seven awards reflect Hexaware's stated focus on AI-first transformation, differentiated client engagement, and marketing that contributes directly to growth and business value.