GK Energy Limited has informed the Exchange about conclusion of GST Inspection or Search.
GKENERGY · price
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Awaiting price reaction for this filing.
GK Energy Limited informed exchanges that a GST search conducted by the Maharashtra State Goods and Services Tax Department at its registered office from February 27 to March 04, 2026 has been concluded. The company fully cooperated and provided all required documents. Three issues were flagged: disallowance of input tax credit (ITC) claimed on IPO expenses of about ₹4.75 crore, reversal of ITC on sundry creditors outstanding beyond 180 days of about ₹1.65 crore, and disallowance of ITC under blocked credit provisions of about ₹96 lakh — a total potential tax exposure of roughly ₹7.36 crore. The company has stated there is no significant financial or operational impact and intends to appeal the order using legal remedies available under GST law.
Investors may see short-term negative sentiment due to the potential tax demand of around ₹7.36 crore, but the company claims the impact is not significant and plans to appeal, which could reduce or delay any actual outflow. Watch for the appeal outcome as it could affect future earnings if the order is upheld.