Background and Previous Disclosure
The company had previously informed the stock exchanges on August 8, 2024, about receiving an order from the Office of the Special Commissioner, Large Taxpayers' Unit, Kolkata. That order raised a GST demand of ₹ 10,35,666, interest of ₹ 8,87,282, and a penalty of ₹ 1,03,566 under Section 73 of the Central Goods and Services Tax Act, 2017 for the period April 2019 to March 2020. The company had filed an appeal against this initial order.
Current Update: Appellate Order Received
The company received a new order on June 24, 2026, at 4:13 p.m. from the Additional Commissioner, State Tax (Appeal), Large Taxpayers Unit. This appellate order has confirmed the original demand in its entirety:
- Confirmed GST Demand: ₹ 10,35,666
- Confirmed Interest: ₹ 8,87,282
- Confirmed Penalty: ₹ 1,03,566
- Total Financial Demand Confirmed: ₹ 20,26,514
Reason for the Order
The order confirmed the demand based on the authority's computation of input tax credit eligible to the company for the period in question (April 2019 to March 2020).
Financial Impact
The company states that there is no immediate financial impact from this order, as the total demand amount (including interest and penalty) was already forming part of the company's contingent liabilities.
Company's Intended Course of Action
The company will pursue an appeal and evaluate other legal options against this confirmed order, including the filing of a writ petition.