Tax & Penalty1 Apr 2026, 11:00 am
Gallantt Ispat Ltd Receives Rs. 233.55 Crores Subsidy from Uttar Pradesh Government
AI Summary
Gallantt Ispat Ltd has received a subsidy amounting to Rs. 233.55 Crores from the State Government of Uttar Pradesh. This subsidy is a refund of State Goods and Services Tax (SGST) under the Infrastructure and Industrial Investment Policy-2012 and 2017 of the state government. The company has invested the total fund, including the subsidy, as a Fixed Deposit with the HDFC Bank Limited, amounting to Rs. 300.01 Crores. The company is not availing Term Loan or other unsecured loan, and the subsidy fund is surplus.
Key Highlights
- Gallantt Ispat Ltd receives a subsidy of Rs. 233.55 Crores from the Uttar Pradesh Government
- The subsidy is a refund of State Goods and Services Tax (SGST) under the Infrastructure and Industrial Investment Policy-2012 and 2017
- The total fund, including the subsidy, is invested as a Fixed Deposit with the HDFC Bank Limited, amounting to Rs. 300.01 Crores
- The company is not availing Term Loan or other unsecured loan
- The subsidy fund is surplus