Tax & Penalty30 May 2026, 11:01 pm
Om Power Transmission: Faces ₹11.6 Lakh ITC Reversal
AI Summary
Om Power Transmission Ltd received an order from the Deputy Commissioner, State Tax, Ahmedabad, on May 27, 2026, directing the reversal of Input Tax Credit (ITC) amounting to ₹11,60,838. This reversal is due to alleged incorrect availment of ITC for the financial year 2015-16 under the Gujarat Value Added Tax Act, 2003. The company received the order on May 30, 2026, and believes it will not have a material impact on its operations.
Key Highlights
- Om Power Transmission to reverse ₹11,60,838 ITC.
- Order relates to alleged incorrect ITC availment in FY 2015-16.
- Order received from Deputy Commissioner, State Tax, Ahmedabad.
- Company states the order will not materially impact operations.
Price Impact
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