Astral Limited has announced the receipt of an order under the Goods and Services Tax Act, 2017, communicated on March 2, 2026. The order relates to an excess claim of Input Tax Credit (ITC) totaling ₹26,80,269 plus applicable interest and penalty. The company intends to challenge this assessment, asserting that there will be no material impact on its financial or operational activities.
Disclosure of Tax Authority Order
Astral Limited has formally informed the stock exchanges regarding the receipt of an official order pertaining to the Goods and Services Tax Act, 2017. The communication detailing this order was received by the company on March 2, 2026, from the Joint Commissioner (Appeals) in Salem, Tamil Nadu.
Details of the Tax Implication
The order, issued under Section 73 of the Central Goods and Services Tax Act, 2017, alleges that the Input Tax Credit (ITC) claimed in GSTR-3B exceeded the ITC available in GSTR-2A for the period spanning July 2017 to March 2021.
- Total Tax Amount Imputed: Rs. 26,80,269/-
- Interest and Penalty: An additional Rs. 2,68,027/- has been imposed.
Company Response and Financial Impact
The management of Astral Limited has stated its intention to contest the ruling. The company plans to challenge the order by filing its reply and submissions before the relevant authorities based on strong merits.
Crucially, the company has assessed the impact of this payable tax demand and concluded that there is no impact on financial, operation or other activities of the listed entity to the extent possible, as the matter is subject to appeal.
Source: BSE
