PSP Projects Limited has informed the Exchange about Action(s) taken or orders passed
PSPPROJECT · price
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Awaiting price reaction for this filing.
PSP Projects Limited has informed the exchanges about a penalty order received from the GST Authority (Office of Assistant Commissioner, Ahmedabad) under Section 74 of the CGST Act, 2017 for FY 2020-21. The penalty of ₹11,91,333 has been levied on the contention that the company availed or utilised Input Tax Credit from cancelled, non-genuine, and non-existent taxpayers, as well as return/tax defaulters. The order was passed on June 11, 2025 and received by the company on June 12, 2025. The company has stated that there is no material impact on its financials or operations, and is in the process of filing an appeal with the appellate authority. The disclosure to the stock exchange was also filed late, attributed to administrative and procedural constraints.
The penalty amount is small and the company has termed it as non-material, so direct financial impact is limited. However, investors may keep an eye on the appeal outcome and the fact that the disclosure itself was delayed.