Kalpataru Projects International Receives Order from GST Authority
Kalpataru Projects International Limited (KPIL) announced today, March 30, 2026, that it received an order from the Goods and Services Tax (GST) Authority on March 28, 2026. The order pertains to the financial years 2019-20 to 2023-24 and involves alleged irregularities concerning the availment and passing on of Input Tax Credit.The GST Authority has demanded a penalty of INR 57.59 lakhs. According to KPIL, the order was issued without considering the company’s reply and submitted documentary evidence. The company intends to appeal the order before the Appellate Authority within the prescribed timelines.
The table below summarizes the details of the order:
| SN | Particulars | Details |
|---|---|---|
| a. | Name of the authority | GST Authority |
| b. | Nature and details of the action(s) taken or order(s) passed | The authority has demanded tax, interest and penalty for the Financial Year 2019-20 to 2023-24 on the alleged grounds of wrong availment and passing on irregular Input Tax Credit. The Authority under the said Order has demanded to pay penalty of INR 57.59 lakhs. The Company will file appeal against the said order and demand made thereunder before Appellate Authority. |
| c. | Date of receipt of direction or order, including any ad-interim or interim orders, or any other communication from the authority | 28 th March, 2026 |
| d. | Details of violation(s) / contravention(s) committed or alleged to be committed | Covered under (b) above |
| e. | Impact on financial, operation or other activities of the listed entity, quantifiable in monetary terms to the extent possible | The penalty levied is covered under (b) above. The same does not have any significant impact on the Company. |
KPIL stated that the penalty does not have a significant impact on the company's operations. The disclosure was submitted on March 30, 2026, which was the first working day following the receipt of the order.
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