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KPIL · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
The company received an update on a GST tax dispute. The original order from December 2024 demanded a penalty of INR 2.64 crores for alleged wrong availment of education cess credit, non-payment of tax on corporate guarantees, and non-payment of tax under reverse charge mechanism for FY 2017-18 to 2021-22. The Hon'ble Appellate Authority has now partially allowed the company's appeal, reducing the penalty to Rs. 56.63 lakhs. The company received this order on May 11, 2026 and plans to further appeal the decision as it believes it has a strong case based on documentary evidence submitted.
Positive for shareholders as the penalty demand has been significantly reduced by about 79%. However, the company will continue to contest the matter further, and the final outcome remains uncertain.