Kolte-Patil Receives GST Show Cause Notices for ₹103.8 Cr Liability

Kolte-Patil Developers Ltd has received Show Cause Notices from the Assistant Commissioner of State Tax, Mumbai, concerning GST liabilities totaling ₹103,81,78,300, including interest and penalties. These notices relate to the purchase of TDR, construction services to society members, and development rights procured under redevelopment projects. The company had previously intimated similar matters on June 4, 2026. The current notices indicate an increased penalty amount of ₹46,35,62,192, with an incremental penalty of ₹39,40,27,864. The applicable period is financial years 2020-2026. The company believes the demand is not maintainable and does not foresee any significant financial or operational impact.