Black Buck Limited Faces Tax Demand as GST Appellate Order Upholds Original ITC Reversal
Black Buck Ltd has received a decision in its appeal regarding an adjudication order concerning Input Tax Credit (ITC) under GST. An appellate order dated July 28, 2026, passed by the Joint Commissioner of Commercial Taxes (Appeals)-4, Bengaluru, Commercial Tax Department, Government of Karnataka, dismissed the company's appeal and confirmed the original demand for tax relating to the period April 2020 to March 2021.The dispute originated from an earlier order dated February 24, 2025, issued by the Assistant Commissioner of Commercial Taxes (Audit), DGSTO-04, Bengaluru, which identified issues related to Input Tax Credit availed under IGST, CGST, and KGST.
The authorities confirmed the demand based on allegations including non-disclosure of ITC pertaining to FY 2019-20 in statutory reconciliation tables (GSTR-9/GSTR-9C), ITC linked to supplier credit notes and non-compliance with Section 16(2)(c) of the CGST/KGST Act, and specific invoices not appearing in GSTR-2A.
The appeal ruling resulted in a total confirmed demand of ₹22,42,28,783/-. The financial implications are detailed below:
| Component | Amount Confirmed (INR) |
|---|---|
| Tax Demand | ₹10,01,02,136/- |
| Interest (up to the date of the order) | ₹11,41,16,435/- |
| Penalty | ₹1,00,10,212/- |
| Total Demand | ₹22,42,28,783/- |
The company has taken the Appellate Order on record and is currently evaluating filing a further appeal before the GST Appellate Tribunal (GSTAT), as soon as it is constituted.
BLACKBUCK Stock Price Movement
Shares of BLACKBUCK LIMITED are edging higher to ₹550.5 as of 1:04 PM, buoyed by a solid 1.07% gain in live trading. The stock trades within the day's range of ₹536.2 to ₹553.9 amidst heavy volume of 287,726 shares.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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