Kalyan Jewellers India Limited — Others, 04-02-2025: Action(s) taken or orders passed

Kalyan Jewellers India Limited received an order from the Joint Commissioner of Taxpayer Services in Thrissur, demanding a penalty of ₹24.14 crore along with interest and taxes related to various GST matters for the years 2017-18 to 2021-22. The company believes the demand is legally unsustainable and is pursuing legal remedies, including filing a writ petition in Kerala’s High Court. Management asserts that this order will not materially affect the company’s financials or operations. Investors may view this as a neutral impact, contingent on the outcome of the legal proceedings.