PSP Projects Limited has informed the Exchange about Action(s) taken or orders passed
PSPPROJECT · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
PSP Projects Limited has received an order in Form GST DRC-07 from the State Tax Officer, Ahmedabad, imposing a penalty of ₹11,19,366 under Section 74 of the GGST Act, 2017 for financial year 2019-20. The allegation is that the company claimed ineligible Input Tax Credit under Section 16(2) from cancelled, non-genuine, and non-existent taxpayers, as well as return/tax defaulters. The order was received on February 20, 2026. The company has stated there is no material impact on its financials or operations and is in the process of filing an appeal with the appellate authority.
The penalty amount of ₹11.19 lakhs is small relative to the company's operations, and management has confirmed no material financial or operational impact. The ongoing appeal means the order is not final, so the immediate impact on shareholders and stock price is likely negligible.