Kalpataru Projects International Limited has informed the Exchange about Action(s) taken or orders passed
KPIL · price
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On the reaction day the stock moved 1.4 pts more than Nifty Smallcap 250 and 1.5 pts more than its Civil Construction peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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The company received a favorable ruling from the Hon'ble Appellate Authority on May 11, 2026, partially allowing its appeal against a GST order. The original December 2024 GST order had demanded penalty of INR 2.64 Crores along with tax and interest 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 F.Y. 2017-18 to 2021-22. The appellate authority reduced the penalty significantly to Rs. 56.63 lakhs. The company stated it has a strong case to defend and will prefer a further appeal to a higher appellate authority within prescribed timelines. The company earlier stated the penalty does not have any significant impact on its operations.
The reduction in penalty from Rs. 2.64 Crores to Rs. 56.63 lakhs is a positive development for the company, though the matter remains ongoing. The company considers the penalty immaterial to its financials and continues to contest the order.