Kalpataru Projects International gets GST demand notice

Kalpataru Projects International Ltd (KPIL) - a specialised engineering, procurement and construction (EPC) company - said on Thursday that it had received a tax notice from the Goods and Services Tax (GST) Authority the previous day. 

The GST Authority has demanded tax and a penalty for the financial year 2019-20 - the period from April 1, 2019, to March 31, 2020, the EPC firm said in a regulatory filing during the market hours on Thursday.

"The authority has demanded to pay an aggregate tax amount of Rs 10.50 lakh and penalty of Rs 1.5 lakh. The authority has also proposed to levy interest as applicable under Section 50 of the Act," said Kalpataru International Projects. 

The demand was on the grounds of an excess claim of input tax credit, it said. 

Kalpataru Projects International also said that the demand does not have any significant impact on it.

Kalpataru International Projects shares gained by Rs 4.6 - or 0.4 per cent - to end at Rs 1,243 apiece on BSE after the news.

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