Kalpataru Limited's Subsidiary AREPL Receives Rs 2.52 Crore GST Demand Order

Kalpataru Limited has informed stock exchanges about a significant GST order received by its subsidiary, marking a regulatory development that requires disclosure under SEBI listing regulations. The company filed the disclosure on March 31, 2026, following receipt of the order by its subsidiary.

GST Order Details

Agile Real Estate Private Limited (AREPL), a subsidiary of Kalpataru Limited, received an order from the Joint Commissioner of CGST, Mumbai West, under Section 74 of CGST Act read with corresponding provisions of MGST Act. The order pertains to financial year 2019-20 and addresses issues related to input tax credit reversal.

Parameter:	Details
Tax Demand:	Rs 2,51,86,746
Additional Charges:	Interest and penalty equivalent to tax amount
Issue:	Short reversal of input tax credit (ITC)
Financial Year:	2019-20
Order Date:	March 30, 2026
Receipt Time:	March 30, 2026 at 5.51 p.m.

Company's Response Strategy

AREPL has outlined its approach to challenge the GST order through proper legal channels. The subsidiary plans to file an appeal against the order with the appropriate GST Appellate Authority. The company expressed confidence in its position, stating that AREPL believes it has a strong case and remains hopeful of a favorable outcome from the appellate process.

Financial Impact Assessment

Kalpataru Limited has assessed the potential impact of this GST order on its overall financial position. The company specifically stated that this order does not have a material financial impact on the company, suggesting that the demand amount, while significant in absolute terms, is manageable within the company's financial framework.

Regulatory Compliance

The disclosure was made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The information was simultaneously disseminated on the company's website investor section, ensuring transparency and compliance with regulatory requirements. Company Secretary and Compliance Officer Gajendra Mewara signed the disclosure document on behalf of Kalpataru Limited.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
+4.60%	+2.39%	-11.44%	-23.04%	-33.58%	-33.58%

Kalpataru Limited has announced that its subsidiary Agile Real Estate Pvt Ltd has received favorable orders from the Commissioner of Income Tax (Appeal), Mumbai regarding multiple assessment years. The disclosure was made under Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015.

Appeal Orders Details

Agile Real Estate Pvt Ltd had filed appeals before the Commissioner of Income Tax (Appeal) against assessment orders passed by the Deputy Commissioner of Income Tax for five consecutive assessment years. The appeals covered Assessment Years 2019-20, 2020-21, 2021-22, 2022-23 and 2023-24, which were previously referenced in the company's prospectus dated June 26, 2025.

Parameter:	Details
Appeal Authority:	Commissioner of Income Tax (Appeal), Mumbai
Assessment Years:	2019-20, 2020-21, 2021-22, 2022-23, 2023-24
Legal Provision:	Section 250 of the Income Tax Act, 1961
Orders Received:	March 24, 2026 between 01:20 p.m. to 03:30 p.m.

Favorable Outcome

The Commissioner of Income Tax (Appeal) has issued orders under Section 250 of the Income Tax Act, 1961 for all the mentioned Assessment Years. Significantly, the CIT(A) has substantially reduced the 'additions to income' that were originally imposed by the Assessing Officer. This reduction has resulted in no material impact on the financials of Kalpataru Limited.

Future Course of Action

Despite receiving favorable orders from the CIT(A), Agile Real Estate Pvt Ltd has indicated its intention to file further appeals against these orders before the appropriate appellate authority. This suggests the company seeks complete resolution of the tax matters rather than accepting the partially favorable outcome.

Regulatory Compliance

Kalpataru Limited received the orders from CIT(A) on March 24, 2026, and promptly disclosed the information to stock exchanges on March 25, 2026. The company has also made this information available on its website at kalpataru.com/investor-corner, ensuring transparency with all stakeholders. The disclosure was signed by Company Secretary & Compliance Officer Gajendra Mewara, demonstrating proper corporate governance practices in handling material developments.