Kalpataru Projects GST Authority Demands ₹6.76 Cr Penalty

Kalpataru Projects International Ltd has received an order from the GST Authority demanding ₹6.76 Crores in tax, interest, and penalty for FY 2018-19 and 2020-21. The demand is based on grounds of excess input tax credit, tax payment mismatch, and short payment under Reverse Charge Mechanism. The company believes the order was issued without considering its submitted evidence and plans to file an appeal before the first Appellate Authority within the prescribed timelines. Kalpataru Projects states that the penalty, while significant, does not have a significant impact on the company's financial or operational activities.