Arkade Developers gets Rs 13.74 lakh GST tax demand from Thane authorities

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AI summary

Arkade Developers received a GST tax demand order of Rs 13,73,857 (about Rs 13.74 lakh) from the Assistant Commissioner, Central GST and Central Excise, Thane Commissionerate. The order dated July 09, 2026 relates to FY 2022-23 and covers alleged issues including availment of Input Tax Credit on certain transactions, GST payable on Transferable Development Rights, and related interest. The company states there is no material impact on its financial or operational activities. It is taking legal advice and considering filing an appeal against the order.

Likely market impact

Small tax demand of about Rs 13.74 lakh; company plans to appeal. No material financial or operational impact stated by management.