Protean eGov Share Price in Focus as Company Receives Sales Tax Appeal Orders Related to PAN Services

Protean eGov Technologies Limited has informed stock exchanges about receiving two orders-in-appeal from the Deputy Commissioner of Sales Tax (Appeals) in Mumbai. 

The orders relate to tax assessments under the Maharashtra Value Added Tax Act, 2002 and the Central Sales Tax Act, 1956 for the financial year 2015–16. 

The matter concerns the nature and scope of PAN-related services provided by the company during the period.

Disclosure to Stock Exchanges

Protean eGov Technologies Limited submitted a regulatory disclosure to the National Stock Exchange and BSE under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

 The communication stated that the company has received orders-in-appeal from the Deputy Commissioner of Sales Tax (Appeals), Nodal Division-04, Mumbai.

The disclosure outlines the details of the orders, the relevant tax statutes involved, and the company’s current assessment of the financial and operational impact.

Order Related to MVAT Demand

The first order concerns proceedings under Section 26(5) of the Maharashtra Value Added Tax Act, 2002. It relates to an earlier assessment order issued on 5 April 2017 concerning PAN services rendered by the company during the financial year 2015–16.

The order confirms a tax demand amounting to approximately ₹22.60 crore. This amount includes interest of around ₹4.94 crore and a penalty of roughly ₹3.53 crore.

According to the disclosure, the Maharashtra Sales Tax Tribunal had previously remanded the matter to the First Appellate Authority through an order dated 24 January 2022. The latest order represents the outcome of the subsequent appellate proceedings.

CST-Related Demand

A separate order addresses the matter under the Maharashtra Value Added Tax Act read with the Central Sales Tax Act, 1956. This order also concerns PAN-related services delivered during the same financial year.

The confirmed demand in this case amounts to about ₹3.20 lakh. The figure includes interest of approximately ₹70,021 and a penalty of around ₹50,015.

Company’s Position and Next Steps

Protean eGov Technologies stated that, based on its internal assessment, the tax demands are not maintainable. The company indicated that it is evaluating available legal options, which may include filing an appeal against the orders.

At present, the company has stated that it does not expect any material impact on its financial position, operations, or other business activities.

Protean eGov Share Price Performance

Protean eGov Technologies’ share price recorded a modest gain during the trading session on 11 March 2026. The stock rose around 2.5% to ₹545.95 compared with the previous close of ₹532.65.

Read More:India to add small ships to west Asia from April 15 as freight surges 300%: FIEO.

Conclusion

The disclosure highlights an ongoing tax dispute concerning the classification and taxation of PAN-related services for the 2015–16 period. 

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