KEC International Limited — Others, 23-01-2025: Action(s) taken or orders passed

KEC International Ltd. has received an adjudication order from the GST Authority in Rajasthan, alleging wrongful availment of Input Tax Credit (ITC) related to non-compliance by a supplier. The order entails a tax demand and penalty, each amounting to ₹22.04 crore. The company plans to contest this order through appropriate legal channels, asserting that it does not anticipate any material financial impact from the situation. Investors may view this as a manageable challenge, with a potential neutral impact on the company's operations and financial standing.