Afcons Infrastructure Limited — Important, 08-01-2025: General Updates

The Deputy Commissioner, Division III, CGST & C.EX, Mumbai West Commissionerate has issued an Adjudication Order against Afcons Infrastructure Limited for tax and penalty recovery related to Input Tax Credit for the financial year 2017-18. The total demand proposed is ₹1.44 crore, which includes a tax amount of ₹0.96 crore and a penalty of ₹0.48 crore. The company has settled ₹1.11 crore of the demand, which covers the tax outstanding and a 15% penalty. The remaining ₹0.34 crore will be paid in due course. Importantly, Afcons has indicated that this order will not materially impact its financials or operations, suggesting a stable outlook despite the demand. Investors should monitor the situation for any future developments or changes.