Afcons Infrastructure Receives GST Demand Order

Afcons Infrastructure Limited has received a demand order from the Assistant Commissioner, CGST, Division-VII, Ahmedabad North. The order pertains to a Show Cause Notice for FY 2020-21, proposing a demand of ₹1,18,38,402/-, comprising tax of ₹59,19,201/-, interest (yet to be quantified), and penalty of ₹59,19,201/-. This demand is related to excess Input Tax Credit availed and utilized. The company disputes the order in its entirety and intends to file an appeal. Afcons states there is no financial impact on the company arising from this matter.