Tax & Penalty22 Sept 2026, 03:28 pm
Om Power Transmission: ITC Claim of ₹1.12 Cr Dropped
AI Summary
Om Power Transmission Ltd received an order from the Office of the Assistant Commissioner, State Tax, Ahmedabad, dated September 21, 2026. The order dropped an alleged ineligible/excess Input Tax Credit (ITC) availment amounting to ₹1,11,96,167 for the Financial Year 2022-23. After examining the company's submissions, the Authority concluded that no ineligible/excess ITC was availed. Consequently, the company is not required to pay the ITC amount or the related interest and penalty of ₹89,22,319. This decision results in no material financial or operational impact on the company.
Key Highlights
- Order received from Assistant Commissioner, State Tax, Ahmedabad.
- Alleged ineligible ITC of ₹1.12 Cr for FY22-23 dropped.
- Company not liable for ITC or ₹89.22 Lacs in interest/penalty.
- Authority found no ineligible ITC after verification.
- No material financial or operational impact on the company.
Price Impact
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