Intimation of order from gst department .Order involves penalty of 20,000/-
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Storage Technologies and Automation Ltd received an order from the Karnataka GST Department under Section 73 of the KGST Act related to FY 2021-22. The order was issued on 18 December 2025 and involves tax of ₹6,376, interest of ₹4,208, and a penalty of ₹20,000, totalling ₹30,584. The reason cited was excess Input Tax Credit (ITC) claimed on certain iron and steel products. The company has stated this is not material and does not foresee any material impact on its finances or operations, and is evaluating its further course of action.
The total financial impact is only ₹30,584, which is negligible for the company. This is a routine tax compliance matter and is unlikely to affect the stock price or shareholder value.