Kalpataru Subsidiary Appeals ₹4.43 Crore GST Demand

Key Details

Kalpataru Properties (Thane) Limited (KPTL), a wholly owned subsidiary of Kalpataru Limited, has filed appeals with the GST Appellate Tribunal on June 17, 2026. The appeals challenge two separate orders:

• Order dated January 30, 2026 passed by Deputy Commissioner of State Tax (Appellate Authority) demanding GST of ₹396.49 lakh (₹3.9649 crore)
• Order dated August 18, 2025 passed by Additional Commissioner demanding GST of ₹46.69 lakh

Context and Rationale

The GST demands relate to Financial Year 2017-18 and pertain to Arimas Developers Private Ltd, which has been merged with KPTL. The dispute concerns "wrongly availing transitional credit on inputs contained in semi-finished goods used for construction of immovable property."

Financial Impact

The total disputed GST amount is ₹443.18 lakh (₹4.4318 crore). The disclosure does not quantify the potential financial impact on the company's financial statements.

Current Status and Outlook

KPTL has filed appeals with the GST Appellate Tribunal and is "hopeful of a favorable outcome." The company received information about the filing of appeals at 1:44 PM on the disclosure date.

Additional Information

The information has been simultaneously disseminated on the company's website at https://www.kalpataru.com/investor-corner.