Kalpataru Projects Wins GST Appeal, ₹1.52 Cr Demand Set Aside
Kalpataru Projects International Ltd announced a favorable outcome in a Goods and Services Tax (GST) dispute. The company had previously been issued a demand for INR 1.52 crore in tax, INR 0.70 lakh in interest, and INR 15.17 lakhs in penalty for the Financial Year 2019-20 due to excess input tax credit claims. The company filed an appeal, and the Appellate Authority has now set aside the GST Authority's order. Separately, the company also received new GST orders for FY 2019-20, FY 2020-21, and FY 2021-22 demanding an aggregate of INR 2.97 Crores in tax, INR 0.16 Crores in interest, and INR 1.61 Crores in penalty. Kalpataru Projects plans to appeal these new demands, stating they do not have a significant impact on the company.
Key Highlights
- GST Appellate Authority sets aside demand of INR 1.52 Cr for FY 2019-20.
- New GST demands totaling INR 2.97 Cr tax, INR 0.16 Cr interest, INR 1.61 Cr penalty received.
- Company plans to appeal new GST demands, citing no significant financial impact.
- Dispute relates to excess claim and time-barred availment of Input Tax Credit.
Price Impact
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