Kalpataru Projects International Limited has received a penalty order of ₹1.51 crores from the GST Authority, as disclosed under Regulation 30 of SEBI's Listing Obligations and Disclosure Requirements Regulations, 2015. The order was received on December 30, 2025, at approximately 1:14 PM IST by a consortium in which the company is a member.

GST Authority Order Details

The GST Authority issued the order under Section 74 of the Central Goods and Services Tax Act, 2017, along with relevant provisions of the State Goods and Services Tax Act, 2017. The penalty pertains to alleged violations during the financial years 2018-19 to 2022-23.

Nature of Alleged Violations

The GST Authority has demanded tax, interest, and penalty from the consortium on specific grounds:

• Excess availment of Input Tax Credit (ITC)
• Short payment of tax during the specified period
• Additional demands for tax and interest components beyond the penalty

Company's Response and Next Steps

Kalpataru Projects International has indicated strong confidence in defending the matter before the Appellate Authority. The company stated that the order was issued without considering the reply and documentary evidence submitted by the consortium during the proceedings.

The consortium plans to file an appeal before the Appellate Authority against the GST order within the prescribed timelines. This approach suggests the company believes it has substantial grounds to challenge the penalty and associated demands.

Financial Impact Assessment

According to the company's disclosure, the penalty of ₹1.51 crores does not have any significant impact on Kalpataru Projects International's operations or financial position. This assessment indicates that while the penalty represents a regulatory challenge, it is not expected to materially affect the company's business activities or financial performance.

The disclosure was signed by Company Secretary Shweta Girotra and filed in compliance with regulatory requirements for transparency regarding legal and regulatory developments affecting listed entities.

Kalpataru Projects International Limited has disclosed the payment of a penalty fee of ₹20.67 lakhs to Gujarat Industrial Development Corporation, as per the regulatory filing made under Regulation 30 of SEBI Listing Obligations and Disclosure Requirements Regulations, 2015. The payment was initiated by the company on December 24, 2025, at approximately 02:46 p.m. IST.

Penalty Details

The penalty payment was made following advice from Gujarat Industrial Development Corporation and relates to administrative construction-related observations. The company has provided comprehensive details of the regulatory action in its disclosure to stock exchanges.

Nature of Action

As advised by the authority, the company paid the penalty fee towards approval of the updated building plan in relation to administrative construction-related observations. The payment represents a compliance measure to address regulatory requirements related to building plan approvals.

Impact Assessment

According to the company's disclosure, the penalty payment does not have any significant impact on Kalpataru Projects International's financial, operational, or other activities. The company has characterized the financial impact as non-material to its overall business operations.

Regulatory Compliance

The disclosure was made to both BSE Limited and National Stock Exchange of India Limited, with the company trading under scrip codes 522287 and KPIL respectively. This transparency measure ensures compliance with stock exchange listing requirements and keeps investors informed about regulatory developments affecting the company.