Updater Services Limited has received a tax order worth ₹11.07 lakh from the Deputy Commissioner in Chennai, Tamil Nadu, under Section 73 of the Central Goods and Services Tax (CGST) Act, 2017. The company disclosed this development through a regulatory filing under Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015.

Order Details

The tax order addresses specific compliance issues identified by the tax authorities. The following table summarizes the key details of the order:

Basis of Tax Order

The order stems from discrepancies in the company's GST filings and tax credit claims. The specific violations identified include:

• Disallowance of ineligible Input Tax Credit (ITC)
• Disallowance of ITC claimed return defaulters tax non-payers

Company's Response and Legal Strategy

Updater Services Limited has expressed disagreement with the tax order, stating that it was passed without considering the response they had submitted against the initial notice. The company's position and planned actions are outlined below:

The company plans to challenge the order through appropriate legal channels, including filing a writ petition or appeal before the appellate authority.

Financial Impact Assessment

Despite the amount involved in the tax order, Updater Services Limited expects minimal financial impact. The company's assessment suggests that the order lacks merit, and they are confident about their position in potential legal proceedings. Based on their evaluation, the company has indicated that the financial amount impact is expected to be nil.

Regulatory Compliance

The disclosure was made in compliance with SEBI regulations, specifically under Clause 20 of Para A of Part A of Schedule III of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015, read with SEBI Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024.

Updater Services Limited , a prominent player in the business services sector, has recently witnessed a significant insider transaction. Raghunandana Tangirala, the Managing Director and Promoter of the company, has increased his stake through a market purchase.

Transaction Details

Raghunandana Tangirala acquired 10,000 equity shares of Updater Services Limited through an on-market transaction executed on the National Stock Exchange (NSE) on December 8, 2025. This purchase has resulted in an increase in his shareholding percentage.

The transaction was duly reported under the Securities and Exchange Board of India (SEBI) insider trading regulations, demonstrating the company's commitment to transparency and regulatory compliance.

Impact and Implications

This insider purchase by a key promoter could be viewed as a positive signal by the market. The increase in shareholding from 24.12% to 24.14% potentially indicates the promoter's continued confidence in the company's future prospects and current valuation. However, investors should always conduct their own research and not base investment decisions solely on insider transactions.

About Updater Services Limited

Updater Services Limited, previously known as Updater Services Pvt Ltd, is a company that focuses on redefining business services. The company is headquartered in Chennai and operates under the CIN L74140TN2003PLC051955. Updater Services emphasizes values such as happy people, clear purpose, continuous improvement, doing good, and maintaining balance in all aspects of its operations.

Investors are advised to consider multiple factors, including the company's financial performance, industry trends, and overall market conditions, before making any investment decisions.