Announced Fri, 24 Jul · 15:26 IST
GST Appellate Authority rules in favor of KPIL for FY 2019-20
Business Updates View source PDF
KPIL · price
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Price reaction · full curve 14 horizons · vs prior close
-0.0%1-day move
₹1300.40
prior close
₹1293.80
base price
In-mkt
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AI summary
The GST Appellate Authority has set aside the original GST order for FY 2019-20 against Kalpataru Projects International Ltd. The earlier order had raised a demand of INR 1.52 crore tax, INR 0.70 lakh interest, and INR 15.17 lakhs penalty on excess input tax credit claims. KPIL had appealed the order in August 2024 and received the favorable ruling on 23rd July 2026.
Likely market impact
Positive for shareholders as a tax demand of about INR 1.68 crore has been set aside, removing the financial liability and uncertainty.