Tax & Penalty4 Jun 2026, 05:11 pm
Kolte-Patil Developers Receives GST Intimations Totaling ₹64.4 Cr
AI Summary
Kolte-Patil Developers Ltd has received intimations from the Assistant Commissioner of State Tax, Mumbai, regarding GST liabilities amounting to ₹64,41,50,436, including interest and penalties. The intimations pertain to GST on TDR purchases, construction services for redevelopment projects, and development rights procured. The company has also been levied a penalty of ₹6,95,34,328. Kolte-Patil Developers believes the demand is not maintainable and is evaluating legal options, stating no significant financial or operational impact is envisaged.
Key Highlights
- Received GST intimations totaling ₹64.41 Cr, including interest and penalties.
- Penalty of ₹6.95 Cr levied by the GST authority.
- Dispute concerns TDR, construction services, and development rights.
- Company deems the demand unsustainable and plans legal action.
- No significant financial or operational impact expected by the company.
Price Impact
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