Kalpataru Projects International Limited — Others, 24-12-2024: Action(s) taken or orders passed

Kalpataru Projects International Limited has received a GST demand order alleging wrongful availment of transitional credit related to the erstwhile JMC Projects (India) Limited, which was amalgamated with Kalpataru. The GST Authority has imposed a penalty of INR 28.99 lakh for the financial year 2017-18. The company asserts a strong case for appeal based on procedural shortcomings in the order, including a lack of personal hearing. The financial impact is expected to be minimal, suggesting a stable outlook for shareholder interests despite this challenge.