NSE/BSE Codes: NSE Code: KALPATARU, BSE Code: 544423
Summary of Key Information:
Nature of Event / Disclosure:
Disclosure of show cause notice received from GST Department by wholly owned subsidiary Ananta Landmarks Private Limited (ALPL), made under Regulation 30 of SEBI Listing Regulations.
Involved Parties / Authorities:
- Issuing Authority: Deputy Commissioner of State Tax (GST Authority)
- Recipient: Ananta Landmarks Private Limited (wholly owned subsidiary)
- Parent Company: Kalpataru Limited
Date / Timeline of Event:
- Show Cause Notice Date: September 24, 2026
- Notice Received by ALPL: September 24, 2026
- Information Received by Kalpataru: September 24, 2026 at 07:04 p.m.
- Disclosure Date: September 25, 2026
Brief Description of Outcome / Dispute:
The GST Authority has issued a show cause notice demanding payment of GST, applicable interest, and penalty aggregating to ₹14,00,00,892 (Rupees Fourteen Crores Eight Hundred and Ninety-Two only) for FY 2022-23. The notice pertains to:
1. Payments made to municipal corporation on reverse charge basis
2. Disallowance of input tax credit
Impact of Outcome:
Financial Impact:
The company explicitly states that "this show cause notice does not have any material financial impact on the operations of the Company." No specific financial provisions or impacts disclosed.
Operational / Business / Strategic Impact:
ALPL is advised that the show cause notice is "devoid of any merits" and the subsidiary "will contest the same." No operational disruptions or business impacts disclosed.
Other Implications:
No material disclosures regarding reputational, legal, regulatory, or market perception effects.
Next Steps / Required Actions:
ALPL will contest the show cause notice. No specific timeline or response deadline mentioned in the disclosure.