Kalpataru Projects International Limited — Others, 21-02-2025: Action(s) taken or orders passed

Kalpataru Projects International Limited has received a demand from the GST Authority for a penalty of INR 42.80 crore related to tax and interest for the fiscal year 2020-21, citing alleged excess Input Tax Credit claims. The company asserts a strong defense, having submitted relevant evidence, and plans to appeal the order within the required timeline. The financial impact from this penalty is noted to be manageable, suggesting no significant disruption to operations. Investors might view this as a potential risk but maintain a stable outlook as the company is poised to contest the claim.