Kalpataru Limited Subsidiary Faces GST Demand Following Appellate Authority Order
Kalpataru Limited, through its wholly owned subsidiary Ananta Landmarks Private Limited (ALPL), has received an order detailing a Goods and Services Tax (GST) demand for the period April 2021 to March 2022. The order, dated May 8, 2026, was issued by the Joint Commissioner of State Tax, Mumbai.The current development follows previous GST demands faced by ALPL for earlier financial years.
Historical GST Demands
The company previously reported demands from the Joint Commissioner of the State Tax (Appeals - VIII) for different periods. These past demands are detailed below:| Disclosure Date | Period Covered | GST Demand (Rs.) |
|---|---|---|
| February 17, 2026 | 01/07/2017 to 31/03/2018; 01/04/2018 to 31/03/2019 | 14,18,18,852 |
| February 24, 2026 | 01/04/2019 to 31/03/2020 | 3,32,93,874 |
New GST Order for ALPL
The recent order, dated May 8, 2026, issued by the Joint Commissioner of State Tax, Mumbai, imposes a net GST demand of Rs. 4,00,85,389 (Rupees Four Crores Eighty-Five Thousand Three Hundred and Eighty-Nine only). This amount includes interest and penalty for the financial period April 2021 to March 2022.ALPL had filed an appeal on February 20, 2026, against a total GST demand of Rs. 5,48,78,704 (Rupees Five Crores Forty-Eight Lakhs Seventy-Eight Thousand Seven Hundred and Four Only) for FY 2021-22, which was initially imposed by the Deputy Commissioner of State Tax (MUM-AUD-E-0405), Mumbai, on December 30, 2025. The GST Appellate Authority partially allowed the appeal, leading to the adjusted net demand.
Violation Details and Financial Impact
The order cited several violations regarding the GST liability. These included:- Reverse Charge Mechanism (RCM) Liability on services provided by Municipal Corporation.
- Excess claim of Input Tax Credit (ITC) in GSTR-3B on various grounds.
- Differential tax liability on corporate guarantee.
Regarding the financial impact, the company stated that the order does not have a material financial impact on Kalpataru Limited. ALPL plans to file an appeal against this order with the appropriate GST Appellate Tribunal, asserting that based on the opinion of their legal advisors, the company has a strong case and remains hopeful of a favorable outcome.
KALPATARU Stock Price Movement
On Friday, Kalpataru Limited shares edged higher, concluding the session at ₹385.15, up 3.10% on a substantial gain of ₹11.55. The stock saw significant trading interest, with 567,391 shares traded during 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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