GST penalty of INR 13.85 crore; company plans appeal
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A GST adjudication order dated October 22, 2026 disallowed 10% excess input tax credit claimed at the company's Madhya Pradesh warehouse for FY 2020-21 to FY 2023-24 and imposed a penalty of INR 13,85,25,490. The company is filing an appeal before the GST Appellate Commissioner in Indore.
The penalty may create a one-time cost and uncertainty, but the company expects no material effect on finances or operations and is pursuing an appeal.