Kalpataru Projects International Limited — Others, 27-02-2025: Action(s) taken or orders passed

Kalpataru Projects International Limited has received a demand from the GST Authority for a penalty of INR 26.72 lakh concerning the alleged excess availment of Input Tax Credit for FY 2020-21. The company asserts it has a solid case for appealing the order, and will be doing so within the prescribed timeframe. Although this penalty is a setback, the company indicates that it will not significantly affect its overall financial position. Investors may view this as a potential risk if the appeal is unsuccessful, but the company's confidence in its defense could provide a positive outlook.