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

ITD Cementation India Limited has received an order from the Additional Commissioner in Ahmedabad regarding a GST liability of ₹34.67 crore, including a penalty of ₹17.33 crore, linked to corporate guarantees issued on behalf of its Joint Ventures for fiscal years 2017-18 to 2022-23. The company plans to appeal, asserting that such guarantees are not taxable under the Central Goods and Services Tax Act. This development is not expected to have a material financial impact on the company, potentially alleviating investor concerns about significant liabilities. Overall, the outlook remains stable with minimal immediate risk.