Kalpataru Projects International Limited has informed the Exchange about Action(s) taken or orders passed
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Kalpataru Projects International Limited informed the exchange that the Appellate Authority has allowed the appeal filed by a consortium in which the company is a member and set aside the GST Authority's earlier order dated 29 January 2025. The original order had demanded a penalty of INR 35.38 lakhs, along with tax and interest, for alleged wrongful availment of input tax credit during FY 2020-21. The ruling in favour of the consortium was received on 27 August 2025. This is a positive resolution of the tax dispute that the company had earlier described as having no significant financial impact.
Positive for shareholders — the company has successfully overturned a GST penalty, removing the financial and reputational overhang from the earlier order. With no monetary liability now confirmed, the matter is closed in the company's favour at this stage.