Key Quantitative Figures
- Total GST liability demanded: ₹64,41,50,436 (Rupees Sixty Four Crores Forty One Lakhs Fifty Thousand Four Hundred Thirty Six only)
- Penalty amount included: ₹6,95,34,328 (Rupees Six Crores Ninety Five Lakhs Thirty Four Thousand Three Hundred Twenty Eight only)
- Period covered: Financial years from 01-04-2020 to 31-03-2026
Dates and Timeline
- Date of receipt of communication: 03 June 2026
- Disclosure filing date: 04 June 2026
- Digital signature timestamp: 2026.06.04 16:58:09 +05'30'
Parties Involved
- Regulatory authority: Assistant Commissioner of State Tax, Jurisdiction, Mumbai, Maharashtra
- Listed entity: Kolte-Patil Developers Limited
- Company representative: Vinod Eknath Patil, Company Secretary and Compliance Officer (Membership No. A13258)
Basis of GST Liability Demand
The intimations under Section 74/74A of CGST/MGST Act 2017 pertain to:
1. Purchase of TDR (Transferable Development Rights)
2. Construction services provided to society members under redevelopment projects
3. Development rights procured from society members in lieu of construction services under redevelopment projects
Company's Position and Response
The Company states that:
- Based on preliminary assessment, the demand is "not maintainable"
- The levy of GST with interest and penalty is "wholly erroneous and not sustainable in the eyes of law"
- The assessment is "arbitrary, unjustified and unsustainable in law" without appreciating the facts of the case
- The Company has reasonable grounds to defend its position
- The Company is evaluating all possible legal options and will take appropriate legal action within permissible timelines
Financial Impact Assessment
The Company explicitly states: "The Company does not envisage any relevant impact on financials, operations or other activities of the Company."
Company Identification Details
- Bangalore Office: 121, The Estate Building, 10th floor, Dickenson Road, Bangalore 560042, India