Background and Chronology
The disclosure is a continuation of a previous submission made on February 26, 2025, regarding an order passed by the Directorate of Commercial Taxes concerning disallowance of Input Tax Credit for the financial year 2020-21.
Current Development
On August 6, 2026, the company received an order from the Directorate of Commercial Taxes, West Bengal (Appellate Authority) under Section 73 of the CGST/West Bengal GST Act, 2017.
Financial Impact
The Appellate Authority revised the original demands as follows:
Original Tax Liability: ₹5,35,73,244 (5.36 crore)
Revised Tax Liability: ₹1,50,83,496 (1.50 crore)
Original Penalty: ₹53,57,324 (53.57 lakh)
Revised Penalty: ₹15,08,350 (15.08 lakh)
Total Original Demand: ₹5,89,30,568 (5.89 crore)
Total Revised Demand: ₹1,65,91,846 (1.66 crore)
Company's Response and Future Course of Action
The company stated that it "will be litigating the matter at higher forum."
Impact Assessment
The disclosure explicitly states: "There is no material impact on financials, operations or other activities of the Company."