Appellate Authority Sets Aside GST Order in Favor of Kalpataru Projects International Ltd
Kalpataru Projects International Ltd has successfully secured a reversal of an earlier Goods and Services Tax (GST) demand from the Appellate Authority. The company received the favorable order on July 23, 2026, which set aside the original order issued by the GST Authority for the financial year 2019-20.The initial adverse action stemmed from a GST Authority decision regarding the aforementioned financial year. This first order had raised a demand of INR 15.17 lakhs in penalty, alongside a tax demand of INR 1.52 crore and interest amounting to INR 0.70 lakh. The company had subsequently filed an appeal against this initial ruling.
Initial GST Demands Across Multiple Financial Years
The legal dispute originated from orders received from various State Goods and Service Tax (GST) Departments in August 2024. These original orders covered demands related to three financial years: FY 2019-20, FY 2020-21, and FY 2021-22.The basis for the GST Authority's initial action included grounds such as excess claim of Input Tax Credit (ITC), time barred availment of ITC, and availment of ITC on blocked supplies.
The financial implications from the original orders, which were set under appeal, are detailed below:
| Financial Year | Total Tax Demand | Total Interest Demand | Total Penalty Demand |
|---|---|---|---|
| FY 2019-20 (Specific Case) | INR 1.52 crore | INR 0.70 lakh | INR 15.17 lakhs |
| FY 2019-20 to FY 2021-22 (Aggregate Demand) | INR 2.97 Crores | INR 0.16 Crores | INR 1.61 Crores |
The original orders, received on August 29, 2024, at different times, were noted by the company, which had stated that it had a strong case to defend the matter before the authorities and planned an appeal against the said orders within prescribed timelines. The initial adverse actions concerning tax, interest, and penalty did not have any significant impact on the company’s financial or operational activities.
KPIL Stock Price Movement
Shares of Kalpataru Projects International Limited settled down after trading today, closing at ₹1294.4, registering a decline of 0.27%. The stock managed an intraday trading range between the high of ₹1309.4 and the low of ₹1273.1, with 128,571 shares changing hands in the session.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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