Kalpataru Projects International Receives ₹15.52 Lakh Goa VAT Penalty Notice Related to Erstwhile JMC Projects

Kalpataru Receives Goa VAT Penalty Notice Related to JMC Operations

Kalpataru Projects International received a tax notice on August 4, 2026, demanding a penalty of INR 15.52 lakhs from the State Tax Officer. The notice, issued under the Goa Value Added Tax Act, 2005, alleges wrong availment of Entry Tax Input Credit of Capital Assets for the assessment year 2016-17.

The regulatory action concerns erstwhile JMC Projects (India) Limited, which has since been amalgamated with Kalpataru Projects International Limited. JMC Projects (India) Limited had been amalgamated with Kalpataru Projects International Limited pursuant to an order passed by the Ahmedabad Bench of the National Company Law Tribunal dated 21 December 2022.

Company Response

The company denies the allegations, citing ignored documentary evidence, and plans to appeal. Management states the amount has no significant financial impact.

Background on JMC Amalgamation

The National Company Law Tribunal approved the merger of JMC Projects (India) Ltd with Kalpataru Power Transmission Ltd, creating one of India's large listed diversified engineering and construction companies with combined order visibility of nearly Rs 43,000 crore. The combined entity has a significant presence in India and projects in 67 countries, with offerings in diversified areas of power transmission and distribution, buildings and factories, water, railways, oil and gas and heavy civil infrastructure.

JMC Projects was among the leading companies offering EPC services for the design and construction of residential, commercial and institutional buildings, factories, and industrial EPC projects, with capabilities to undertake MEP, HVAC, facade, finishing and interior projects on EPC basis.