Kalpataru Projects International Limited — Others, 28-02-2025: Action(s) taken or orders passed

Kalpataru Projects International Limited has received a notice from the GST Authority demanding a penalty of ₹88.54 crore due to alleged excess availment of Input Tax Credit for the financial year 2020-21. The company believes it has a strong case for appeal as the order was issued without fully considering their submitted evidence. They plan to contest this decision within the prescribed timeline. While the penalty is notable, the company asserts it will not significantly impact its financial position. This situation could create a potential risk for investors, though the company seems well-prepared to handle the appeal process.