Disclosure under Regulation 30 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015
Awaiting price reaction for this filing.
Kalpataru Projects International Limited (KPIL), as part of a consortium, received a GST order on May 26, 2025 from the GST Authority for FY 2021-22. The authority denied input tax credit and ignored the consortium's submissions, demanding tax, interest, and a penalty of INR 99.80 lakhs (approximately ₹1 crore). The company believes it has a strong case to defend, as the order was passed without considering their replies and evidence. The consortium plans to file an appeal before the Appellate Authority within the prescribed timeline. KPIL has clarified that the penalty has no significant impact on the company.
The penalty amount is small (~₹1 crore) and the company states it has no significant financial impact. The stock is unlikely to react materially, though the appeal outcome will be worth tracking.