Technocraft Ventures Wins GST Appeal, Tax Demand of ₹3.43 Crore Set Aside
Technocraft Ventures Limited won a GST appeal, with the Appellate Authority setting aside a tax demand of ₹1.71 crore and an equal penalty of ₹1.71 crore. The appeal was allowed as proceedings were deemed time-barred and lacked evidence of fraud. The Order-in-Appeal was uploaded on November 2, 2026.
The successful appeal resolves a substantial tax demand and penalty, positively impacting the company's financial standing and reducing contingent liabilities. However, the initial demand was for a specific period and the resolution brings closure to this matter.
The company has successfully appealed against a significant tax demand and penalty, leading to a favorable resolution of the litigation.
Technocraft Ventures Limited has received a favorable outcome in its Goods and Services Tax (GST) litigation. The Additional Commissioner, Central Goods and Services Tax (Appeals), Meerut, vide an Order-in-Appeal dated October 19, 2026, allowed the company's appeal against an earlier order. This order had confirmed a tax demand of ₹1,71,87,505/-, along with an equivalent penalty of ₹1,71,87,505/-, and applicable interest, totaling approximately ₹3,43,75,010.
The original proceedings stemmed from a Show Cause Notice issued in June 2025, alleging discrepancies in Input Tax Credit (ITC) and annual GST returns for the financial years 2018-19 to 2020-21. The company had filed an appeal on March 9, 2026, against the adjudicating authority's order.
The Appellate Authority observed that the Department failed to establish fraud, willful misstatement, or suppression of facts to evade tax, and further held that the proceedings were barred by limitation. Consequently, the company's appeal was allowed, providing relief from the tax demand, penalty, and interest. The company had previously deposited ₹17,18,753/- as a mandatory pre-deposit for the appeal.
A copy of the Order-in-Appeal was uploaded on the GST portal on November 2, 2026. This development relates to litigation that was disclosed in the company's Prospectus dated August 12, 2026.
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Technocraft Ventures 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 medium impact: worth reading, rarely worth acting on by itself.
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