Kalpataru Projects International Limited (KPIL) confirmed the receipt of an Order from the GST Authority concerning tax, interest, and penalty demands covering Financial Years 2019-20 through 2023-24. The demand relates to the alleged irregular availment and passing of Input Tax Credit. The company has been ordered to pay a penalty of INR 57.59 lakhs. KPIL maintains a strong defense position and plans to appeal the order before the Appellate Authority.
GST Authority Communication Received
Kalpataru Projects International Limited (KPIL) has disclosed the receipt of an official Order from the Goods and Services Tax (GST) Authority on 28th March, 2026. This directive was issued under the provisions of the Central and State Goods and Services Tax Acts.
Details of the Tax Demand
The core of the Order centers on demands for tax, interest, and penalties spanning five financial years, specifically from 2019-20 up to 2023-24. The alleged violation concerns the improper availment and utilization of Input Tax Credit (ITC).
Key Financial Liability
The Authority has specifically directed the company to pay a penalty amounting to INR 57.59 lakhs. This penalty is directly linked to the violations detailed in the Order.
Company Response and Appeal Plans
KPIL asserts that the Order was passed without adequate consideration of the documentary evidence and detailed reply previously submitted by the company. Consequently, the management believes it possesses a strong case to defend its position. The company intends to file an appeal against the Order and the associated demands before the designated Appellate Authority within the stipulated timelines.
Impact Assessment
The disclosure confirms that the penalty levied, quantified at INR 57.59 lakhs, does not have any significant impact on the overall financial, operational, or other activities of the listed entity.
Source: BSE
