Kalpataru Subsidiary Faces ₹4 Cr GST Demand Post-Appeal
Kalpataru Limited's subsidiary, ALPL, received a net GST demand of ₹4.01 crore for FY21-22 post-appeal. This follows an earlier demand of ₹5.49 crore. ALPL plans further appeal, expecting a favorable outcome, and the company stated no material financial impact.
The company explicitly stated that the order does not have a material financial impact. While a litigation matter, the reduced demand and strong case for further appeal limit the immediate financial impact.
The subsidiary has received a GST demand, which is a negative development. However, the demand has been reduced after an appeal, and the company believes it will have no material financial impact, and is hopeful for a favorable outcome in further appeals. Therefore, the sentiment is neutral.
Kalpataru Limited announced that its wholly-owned subsidiary, Ananta Landmarks Private Limited (ALPL), has received an order from the Joint Commissioner of State Tax, Mumbai – App-F-0008, imposing a net Goods and Services Tax (GST) demand of ₹4,00,85,389 for the period April 2021 to March 2022. This demand includes interest and penalties.
This order follows an earlier demand of ₹5,48,78,704 for FY 2021-22 issued by the Deputy Commissioner of State Tax, Mumbai, against which ALPL had filed an appeal on February 20, 2026. The GST Appellate Authority's order on May 8, 2026, partially allowed the appeal, resulting in the reduced demand.
The alleged violations leading to the demand include RCM liability on services provided by the Municipal Corporation, excess claim of Input Tax Credit (ITC) in GSTR-3B, and differential tax liability on corporate guarantee. ALPL plans to file a further appeal against this order with the appropriate GST Appellate Tribunal, and based on legal advice, the company is optimistic about a favorable outcome. The company has stated that this order does not have a material financial impact on Kalpataru Limited.
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Kalpataru Limited filed this with the NSE as a statutory disclosure, categorised under litigation updates. It is a primary document, not a recommendation, and the desk marks it low impact, the band that almost never moves a portfolio on its own.
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