JK Paper Limited has been served with an order from the Assistant Commissioner of C.G.S.T., Tapi, Gujarat, raising an aggregate demand of ₹2,53,91,496 for the period FY 2020-21 to FY 2022-23. This demand includes tax and penalty for an alleged claim of excess Input Tax Credit. The company maintains that the demand is unjustified and legally untenable, and it intends to file an appeal before the Commissioner (Appeals).
GST Demand Issued by Authorities
JK Paper Limited has disclosed a significant development concerning a tax demand raised by the Assistant Commissioner of C.G.S.T., Tapi, Gujarat. The order, dated September 21, 2026, pertains to the period from the Financial Year (FY) 2020-21 to FY 2022-23. The total aggregate demand is set at ₹2,53,91,496, which comprises ₹1,26,95,748 towards tax and an equivalent amount of ₹1,26,95,748 as penalty. This demand is based on an alleged claim of excess Input Tax Credit.
Company’s Stance and Future Action
JK Paper Limited has firmly stated that the aforementioned demand is unjustified and legally untenable, asserting that it is contrary to the provisions of the applicable GST Acts. In response to this order, the company plans to file an appeal. The appeal will be lodged before the Commissioner (Appeals) to contest the validity of the demand. The date and time of the occurrence of this event, the issuance of the order, was September 21, 2026, at 06:43 P.M.
Disclosure Compliance
This disclosure is made in compliance with Regulation 30, read with Para A (20) of Part A of Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. A detailed breakdown of the action taken by the authority is provided in Annexure I, as required by SEBI Master Circular No. HO/49/14/14(7)2025-CFDPOD2/1/3762/2026, dated January 30, 2026.
Source: BSE
