Tax & Penalty22 Sept 2026, 05:31 pm
JK Paper faces ₹2.53 Cr GST demand for excess ITC claim
AI Summary
JK Paper Ltd. has received an order from the Assistant Commissioner of C.G.S.T., Tapi, Gujarat, dated September 21, 2026. The order raises an aggregate demand of ₹2,53,91,496/-, comprising ₹1,26,95,748/- towards tax and an equal amount towards penalty, along with applicable interest. This demand is for alleged excess Input Tax Credit (ITC) for the financial years 2020-21 to 2022-23. The company states that the demand is unjustified, legally untenable, and against the provisions of the GST Acts. JK Paper intends to file an appeal before the Commissioner (Appeals) against these orders.
Key Highlights
- JK Paper received a GST demand order totaling ₹2.53 crore.
- The demand includes ₹1.27 crore tax and ₹1.27 crore penalty.
- It pertains to alleged excess Input Tax Credit from FY20-21 to FY22-23.
- Company deems the demand unjustified and legally untenable.
- JK Paper plans to appeal the order before the Commissioner.
Price Impact
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