Tax & Penalty15 Oct 2026, 07:41 pm
IRCTC Ordered to Pay ₹50.41 Cr Plus Interest for Anti-Profiteering
AI Summary
Indian Railway Catering and Tourism Corporation Ltd (IRCTC) has been directed by the GSTAT to deposit a profiteered amount of ₹50,41,44,461/- along with interest at 18% per annum from June 28, 2019. This order follows the acceptance of the Directorate General of Anti-Profiteering (DGAP) Report. The amount is to be deposited in Central and State Consumer Welfare Funds equally within one month. Failure to comply will result in an additional 10% penalty. IRCTC plans to appeal this order.
Key Highlights
- GSTAT orders IRCTC to pay ₹50.41 Cr plus 18% interest.
- Payment is for accepted anti-profiteering findings by DGAP.
- Funds to be deposited in Consumer Welfare Funds within one month.
- 10% penalty applicable for non-compliance within 30 days.
- IRCTC intends to file an appeal against the order.
Price Impact
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