Kalpataru Limited Receives GST Demand Order of ₹80.71 Crore
Kalpataru Limited received a GST demand order of approximately ₹80.71 crore for FY 2018-19. The order includes tax, interest, and penalty. The company plans to appeal the order and does not expect a material financial impact.
While the company plans to appeal and does not expect a material impact, the order itself for ₹80.71 crore is substantial.
The company has received a significant tax demand order, which is a negative development.
Kalpataru Limited announced on December 30, 2025, that it has received an order from the Joint Commissioner, CGST Office, Mumbai – West. This order pertains to a demand for tax, interest, and penalty for the financial year 2018-19, under section 74 of the GST Act.
The issue relates to the non-payment of GST on newly constructed flats allotted to existing members in lieu of transfer of development rights. The company had previously disclosed a show cause cum demand notice dated May 13, 2025, for ₹83.33 crore for the same matter.
The current order includes a demand of CGST ₹20,17,86,465, SGST ₹20,17,86,465, and a total penalty of ₹40,35,72,930, resulting in a total demand of ₹80,71,45,860 (approximately ₹80.71 crore).
Kalpataru Limited plans to file an appeal against this order with the Appellate Authority. The company expressed its hope for a favorable outcome and does not anticipate a material financial impact on its operations.
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Kalpataru 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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