Kalpataru Projects International Limited has received a notice from the Goa State Tax Officer concerning the Goa Value Added Tax Act, 2005. The notice demands tax, interest, and a penalty of INR 15.52 lakhs pertaining to the assessment year 2016-17 for erstwhile JMC Projects (India) Limited. The company asserts it has a strong case to defend the matter and intends to prefer an appeal against the notice.
Tax Authority Issues Notice
Kalpataru Projects International Limited has been served a notice by the State Tax Officer, under the provisions of the Goa Value Added Tax Act, 2005. The notice, received on August 4, 2026, pertains to the assessment year 2016-17 and relates to erstwhile JMC Projects (India) Limited, which has since been amalgamated with Kalpataru Projects.
Allegations and Penalty Demand
The authority alleges wrong availment of Entry Tax Input Credit of Capital Assets. As a result, the Company has been demanded to pay a penalty of INR 15.52 lakhs. The notice was initially received at the registered office of the erstwhile JMC Projects (India) Limited, and subsequently, a copy was provided to the Company’s registered office in Gandhinagar.
Company’s Stance and Next Steps
Kalpataru Projects International Limited stated that it has a strong case to defend the matter before the Authority, as the notice was allegedly issued without considering the documentary evidence submitted by the Company. The Company further announced its intention to prefer an appeal before the Appellate Authority against the said notice within the prescribed timelines. The Company believes the levied penalty does not have any significant impact on its financial, operational, or other activities.
Source: BSE
