Kalpataru Subsidiary Receives GST Demand Order of ₹3.33 Crore
Kalpataru's subsidiary, ALPL, received a GST demand order of ₹3.33 crore for FY 2019-20. The order partially allowed an appeal against a previous demand of ₹5.10 crore. The company stated this has no material financial impact and plans to appeal further.
The company explicitly stated that the order does not have a material financial impact on the company. Therefore, the impact is considered low.
The company has received a GST demand order, which is a negative development. However, the company has stated that it does not have a material financial impact and they are hopeful for a favorable outcome in the further appeal, which mitigates the negative sentiment.
Kalpataru Limited announced that its wholly owned subsidiary, Ananta Landmarks Private Limited (ALPL), has received an order from the GST Appellate Authority on February 23, 2026. This order pertains to a total GST demand of ₹3,32,93,874 (Rupees Three Crores Thirty-Two Lakhs Ninety-Three Thousand Eight Hundred and Seventy-Four only) for the period 01/04/2019 to 31/03/2020, inclusive of interest and penalty.
This follows a previous order dated June 24, 2024, where the Deputy Commissioner of State Tax had imposed a total GST demand of ₹5,09,86,967 for FY 2019-20. ALPL had filed an appeal against this initial order.
The recent order from the GST Appellate Authority partially allowed the appeal. The specific violations alleged include RCM liability on services provided by Municipal Corporation, excess claim of Input Tax Credit (ITC), and short reversal of common ITC.
Despite the demand, Kalpataru Limited stated that this order does not have a material financial impact on the Company. ALPL intends to file a further appeal against this order with the appropriate GST Appellate Authority and is hopeful for a favorable outcome based on the opinion of external legal and tax advisors.
What to do with a filing like this
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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See the model portfoliosA plain-language summary of a public exchange filing by Kalpataru Limited. Read the original for the full detail.