GST order: Rs. 1,07,81,972 tax demand and equal penalty; company to file rectification/appeal
GST order for FY 2020-21 to FY 2023-24 disallows Input Tax Credit availed.
By ScoutQuest · · 1 min read
- Tax Demand
- Rs. 1,07,81,972
- Penalty
- Rs. 1,07,81,972
- Period Covered
- FY 2020-21 to FY 2023-24
An order has been passed against the company by the Assistant Commissioner of Central Tax, CGST & CX, Bishnupur Division, Kolkata South Commissionerate, and the company has informed the exchanges about it.
What the order says
- The order has been passed under the Central Goods and Services Tax Act, 2017 for the financial years 2020-21 to 2023-24.
- Among other things, it disallows Input Tax Credit (ITC) availed by the company.
- The total tax demand amounts to Rs. 1,07,81,972/- and the penalty amounts to Rs. 1,07,81,972/-.
- Applicable interest has also been confirmed in the order.
- The company received the order on 14th October, 2026 at 05:31 P.M.
What Input Tax Credit means
- When a business buys goods or services on which GST is paid, it can usually set that tax off against the GST it owes on its own sales.
- This set-off is called Input Tax Credit.
- Here, the authority has disallowed the ITC the company had availed, and has raised a demand and penalty along with interest for it.
What the company says
- The company states it has fulfilled all the conditions prescribed under the relevant Acts with respect to availment of the ITC.
- It says it has a strong case based on merits.
- It will be update rectification and/or an appeal against the order within the prescribed timelines.
- On impact, the company states there is no material impact on its financial, operational or other activities.
What to keep in mind
- The order confirms a demand, penalty and interest at the level of the adjudicating authority.
- The company has said it will contest it through rectification and/or appeal. The eventual position would follow from that process.
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More numbers
- Total tax demandRs. 1,07,81,972/-
- Penalty amountRs. 1,07,81,972/-
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