CGST order demanding about Rs 63 lakh over capital goods ITC claim
VALIANTLAB · price
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Valiant Laboratories received a CGST order dated Dec 26, 2025 from the Assistant Commissioner of CGST and Central Excise, Navi Mumbai. The order confirms a demand of Rs 57.25 lakh for alleged wrong availment of Input Tax Credit on capital goods for FY 2021-22, plus a penalty of Rs 5.72 lakh, totalling about Rs 62.97 lakh. The authority held that claiming depreciation on the GST component of capital goods is impermissible. The company is evaluating options, including filing an appeal before the appropriate authority.
Financial impact of about Rs 63 lakh in tax demand and penalty. Company plans to appeal, so final outcome is pending and not yet a confirmed loss.