Kalpataru Projects International Limited — Others, 23-12-2024: Action(s) taken or orders passed

Kalpataru Projects International Limited has received an order from the GST Authority, demanding payment of INR 84.93 lakhs for alleged excess input tax credit claims during the 2017-18 financial year. The company perceives a strong case for appeal, citing favorable precedents, and intends to challenge the order within the prescribed timeline. While this penalty is notable, management suggests it will not significantly impact the company’s financials. Investor sentiment could adopt a positive outlook based on the anticipated appeal, though monitoring the outcome remains prudent.