GST show cause notice, Rs 103.82 crore demand; company to contest

KOLTEPATIL · price

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AI summary

Kolte-Patil Developers received a GST show cause notice from Maharashtra state tax authorities demanding Rs 103.82 crore including interest and penalties, an increase of Rs 39.40 crore over the earlier intimation from 04 June 2026. The demand covers FY 2020-2026 and relates to GST on TDR purchases, construction services to society members, and development rights under redevelopment projects. Total penalty is Rs 46.36 crore. The company says the demand is not maintainable and will take legal action, expecting no material impact on financials or operations.

Likely market impact

Rs 103.82 crore tax demand plus Rs 46.36 crore penalty disputed. Company plans legal action, sees no material financial impact. Monitor case outcome.