Kalpataru Projects International Limited has received a Notice of Assessment from the Eswatini Revenue Service, demanding tax and a penalty totaling SZL 643,353.62 (approximately INR 38.02 lakhs). The demand pertains to an alleged double claim of input VAT on construction material expenses for the period November 2024 to January 2026. The company intends to file objections within the prescribed timelines.
Eswatini Tax Notice Received
Kalpataru Projects International Limited has disclosed the receipt of a Notice of Assessment from the Eswatini Revenue Service. This notice levies a demand for tax and penalty concerning the period from November 2024 to January 2026.
Allegations and Penalty Amount
The core of the assessment by the Eswatini Revenue Service is an alleged double claim of input VAT on construction material expenses. Consequently, the authority has demanded payment of a penalty amounting to SZL 643,353.62, which is equivalent to approximately INR 38.02 lakhs.
Company’s Response
The company has indicated that its branch office in the Kingdom of Eswatini plans to exercise its right to file objections against this assessment notice. Kalpataru Projects International Limited stated that while the penalty is significant, it is not expected to have a substantial impact on the company’s overall financial or operational activities.
The intimation of this notice was received by the Company on August 13, 2026, at approximately 06:57 p.m. (IST).
Source: BSE
