Kalpataru Limited has informed the Exchange about receipt of an Order passed by the Joint Commissioner, Office of the Commissioner of CGST, Mumbai
KALPATARU · price
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Kalpataru Limited has received an order from the Joint Commissioner of CGST, Mumbai-West, dated December 26, 2025, with a total tax demand of approximately Rs. 80.71 crores (Rs. 40.36 crores each under CGST and SGST) for financial year 2018-19. The demand relates to non-payment of GST on newly constructed flats allotted to existing members in exchange for transfer of development rights received from a society. This follows a show cause notice the company received earlier in May 2025 for Rs. 83.33 crores on the same matter, to which it had already replied. The company plans to file an appeal with the Appellate Authority and believes a favourable outcome is likely.
The company does not expect a material financial impact and will challenge the order through appeal. While the demand size is significant, the stock may see limited negative reaction given the company's confidence in overturning it, though investors should track appeal progress.