Legal6 April 2026 at 03:57 pm
Kolte-Patil Developers Ltd Receives Demand Order under Section 74 of CGST/MGST Act, 2017
AI Summary
Kolte-Patil Developers Ltd has received a demand order under the GST law in respect of a redevelopment project. The demand order is for an amount of Rs. 58,22,58,380/- (Rupees Fifty Eight Crores Twenty Two Lakhs Fifty Eight Thousand Three Hundred Eighty only) including interest and penalties. The company believes that the levy of GST demand along with interest and penalty is arbitrary, unjustified and unsustainable in law and is evaluating all possible legal options. The company does not envisage any relevant impact on financials, operations or other activities of the Company.
Key Highlights
- Kolte-Patil Developers Ltd has received a demand order under the GST law in respect of a redevelopment project.
- The demand order is for an amount of Rs. 58,22,58,380/- (Rupees Fifty Eight Crores Twenty Two Lakhs Fifty Eight Thousand Three Hundred Eighty only) including interest and penalties.
- The company believes that the levy of GST demand along with interest and penalty is arbitrary, unjustified and unsustainable in law.
- The company is evaluating all possible legal options.
- The company does not envisage any relevant impact on financials, operations or other activities of the Company.