Tax & Penalty8 Oct 2026, 04:15 pm
KEI Industries: GST Demand Reduced by ₹4.46 Cr
AI Summary
KEI Industries Ltd has received a revised order from the Commissioner (Appeals), Noida, reducing the earlier GST demand. The original demand was for ₹2,23,13,702/- (approximately ₹2.23 Cr) plus an equal penalty, related to financial year 2017-18. This demand pertained to reverse charge mechanism on road cutting charges, availing excess input tax credit, and interest on delayed billing. The appellate authority has now reduced the demand to ₹2,23,13,702/- and penalty of ₹2,23,13,702/-. The company believes the demand is not maintainable and is evaluating further appeal options, but does not foresee any material impact on its financials or operations.
Key Highlights
- GST demand reduced by approximately ₹4.46 Crore.
- Appeals Commissioner revised order received on October 7, 2026.
- Original demand was for FY 2017-18 concerning GST on road restoration.
- Company evaluating further appeal, no material financial impact expected.
Price Impact
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