GST demand of about Rs 37 cr raised on Suraj Estate; company to appeal
SURAJEST · price
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Suraj Estate Developers received an order from CGST and Central Excise on Dec 19, raising a GST demand of Rs 18.61 cr plus interest, with a separate penalty of Rs 18.43 cr. Total exposure is about Rs 37 cr. The demand stems from audit findings for FY 2018-19 to FY 2022-23, mainly on payments made to BMC and other statutory bodies. The company says legal opinion finds the demand not maintainable and plans to appeal before Commissioner (Appeals-II). It expects no major impact on financials or operations.
Adverse order of about Rs 37 cr, but company plans to appeal and expects no major impact. Watch the appeal outcome.