Kalpataru Limited has informed the Exchange about Receipt Of An Order Passed By Joint Commissioner Of The State Tax (GST Appellate Authority) To Ananta Landmarks Private Limited, A Wholly-Owned Subsidiary Of The Company
KALPATARU · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Kalpataru Limited's wholly-owned subsidiary Ananta Landmarks Private Limited (ALPL) received an order from the Joint Commissioner of State Tax (GST Appellate Authority) on May 8, 2026. The order imposes a net GST demand of Rs. 4,00,85,389 for the period April 2021 to March 2022, inclusive of interest and penalty. This is a partial success for ALPL, as the original demand was Rs. 5,48,78,704, reduced after appeal. The violations alleged include RCM liability on municipal corporation services, excess Input Tax Credit claims, and differential tax on corporate guarantee. The company states this does not have a material financial impact and ALPL plans to file a further appeal with the GST Appellate Tribunal.
The ~Rs. 4 crore demand is relatively small for Kalpataru. However, this represents an ongoing tax dispute and additional litigation risk for the subsidiary that could have minor impact on group financials if the appeals fail.