Kalpataru Projects International Limited — Others, 25-02-2025: Action(s) taken or orders passed

Kalpataru Projects International Limited has received a GST authority order demanding a tax penalty of INR 29.90 lakh for the financial year 2020-21, citing alleged wrong availment of Input Tax Credit and short payment of tax. The company believes it has a strong case to appeal this decision, as it asserts that the order was issued without considering its prior evidence and responses. While the penalty is notable, the company indicates that it won't significantly impact its operations. Investors may view this development as a neutral impact, with the potential for an appeal mitigating risks.