GST appellate order confirms Rs 38.82 cr tax demand and penalty
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Afcons Infrastructure received an appellate order on Oct 14, 2026 from CGST Commissioner (Appeals) Thane, confirming the original GST order dated Jan 27, 2025 for FY 2017-18 to FY 2018-19. The original order had a tax demand of Rs 38.82 crore, applicable interest, and a penalty of Rs 38.82 crore. Company says no material adverse impact on financials. It plans to file further appeal before GST Appellate Tribunal.
Loss at appellate level but company plans further appeal. Management says no material impact. Total tax plus penalty is about Rs 77.64 crore.