Atul Ltd has received an order for GST demand and penalty from the Joint Commissioner, GST & Central Excise, Surat. The GST demand amounts to ₹8.33 cr and a penalty of ₹8.44 cr has been levied, alleging incorrect availment of input tax credit. The order was received on December 31, 2025. The company believes there will be no material impact on its financials.
Details of GST Order
Atul Ltd has been served with an order from the Joint Commissioner, GST and Central Excise, Surat, regarding GST demand and associated penalties. The notification, received on December 31, 2025, specifies concerns related to the company’s availment of input tax credit.
Financial Implications
The order specifies a GST demand of ₹8.33 cr, along with a penalty of ₹8.44 cr. The allegations pertain to incorrect availment of input tax credit against goods and services used for construction and building related work.
Violation Details
The order, under Section 74 of the GST Act, covers the financial years FY 2018-19 to 2022-23. The core issue is the alleged incorrect availment of Input Tax Credit during this period.
Company Response
Atul Ltd states that it anticipates no material impact on its financial operations or other activities due to this order. The company has the option to appeal the order and will consider all available legal remedies.
Source: BSE
