India's Artemis Medicare falls after tax notice

Artemis Medicare Services

30/09/2026 08:20

** Shares of India's Artemis Medicare Services ATEM.NS fall 4.5% to 350.15 rupees
** Stock set for its biggest percentage loss in six months
** Hospital operator says it received show-cause notice from Office of the Assistant Commissioner, CGST, Gurugram for FY2022-23
** Adds expected financial implication is 111.1 million rupees ($1.16 million), plus interest and penalty
** Co says GST department alleges company charged MRP including GST on medicines, consumables and implants supplied to in-patients without remitting GST to government
** Stock up 29.2% YTD 

($1 = 95.9800 Indian rupees)

 (Reporting by Payel Das in Bengaluru)
 ((Payel.das@thomsonreuters.com))