Kalpataru Subsidiary Receives Tax Order, Plans Appeal
Kalpataru Limited announced on March 31, 2026, that its subsidiary, Agile Real Estate Private Limited (AREPL), has received a tax order from the Joint Commissioner of CGST, Mumbai - West. The order, dated March 30, 2026, pertains to the financial year 2019-20 and concerns a short reversal of input tax credit (ITC).The CGST order raises a tax demand of Rs. 25,186,746, along with applicable interest and penalties equivalent to the tax amount. AREPL intends to file an appeal against the order with the GST Appellate Authority and expressed confidence in a favorable outcome.
According to Kalpataru Limited, the order is not expected to have a material financial impact on the company. AREPL received the order on March 30, 2026, at approximately 5:51 p.m.
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