BlackBuck's Appeal Dismissed, Tax Demand of ₹22.42 Crore Upheld
BlackBuck Limited's appeal against a tax demand has been dismissed by the Joint Commissioner of Commercial Taxes. The order upholds a demand of ₹22.42 crore, including tax, interest, and penalty for the period April 2020 to March 2021, related to Input Tax Credit. The company is evaluating further appeal options.
The financial implication of ₹22.42 crore is significant for the company, potentially impacting its financials and operations, warranting a medium impact assessment.
The company's appeal has been dismissed, and the tax demand has been upheld, which is a negative development.
BlackBuck Limited has received an appellate order dated July 28, 2026, from the Joint Commissioner of Commercial Taxes (Appeals) -4, Bengaluru, dismissing the company's appeal. This order upholds the original adjudication order dated February 24, 2025, which had confirmed a demand of ₹22,42,28,783 for the tax period April 2020 to March 2021. The demand comprises tax of ₹10,01,02,136, interest of ₹11,41,16,435 up to the order date, and a penalty of ₹1,00,10,212. The original order was based on alleged excess/ineligible availment of Input Tax Credit (ITC) due to non-disclosure of ITC in annual returns, non-compliance with certain ITC provisions, and invoices not appearing in GSTR-2A.
The company had previously disclosed the adjudication order on February 25, 2025. The appellate authority dismissed the appeal, stating that the company failed to substantiate its ITC claims with complete and cogent documentary evidence. The company has taken the order on record and is evaluating the possibility of filing a further appeal before the GST Appellate Tribunal (GSTAT).
As of the order date, ₹1,00,10,214 was deposited as pre-deposit, and ₹1,35,550 was deposited as admitted tax and penalty.
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BLACKBUCK LIMITED filed this with the NSE as a statutory disclosure, categorised under other regulatory filings. It is a primary document, not a recommendation, and the desk marks it medium impact: worth reading, rarely worth acting on by itself.
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