Kalpataru Subsidiary Ananta Landmarks Receives Reduced GST Appellate Order of ₹4.01 Crore for FY 2021-22

Kalpataru Subsidiary Ananta Landmarks Receives Partial Relief in GST Appellate Order

Kalpataru Limited disclosed that its wholly owned subsidiary, Ananta Landmarks Private Limited (ALPL), received a GST appellate order dated May 8, 2026, reducing the net demand to ₹4,00,85,389 for FY 2021-22, down from the original demand of ₹5,48,78,704. The order was issued by the Joint Commissioner of State Tax, Mumbai.

Background of the Assessment

ALPL had originally received an order dated December 30, 2025, from the Deputy Commissioner of State Tax (MUM-AUD-E-0405), Mumbai, imposing a total GST demand of ₹5,48,78,704 for FY 2021-22, inclusive of interest and penalty under the IGST Act, 2017, and the CGST and SGST Acts. ALPL filed an appeal on February 20, 2026 against the original order.

Violations Cited

The order covers alleged violations including RCM (Reverse Charge Mechanism) liability, excess ITC (Input Tax Credit) claims, and differential tax on corporate guarantees. These issues have been a recurring theme across multiple GST assessments of Kalpataru's subsidiaries in recent years.

Next Steps and Company Position

ALPL intends to file a further appeal against the order before the appropriate GST Appellate Tribunal. Based on the opinion of its legal advisors, ALPL is of the view that it has a strong case in the matter.

Kalpataru Limited has stated that this order does not have a material financial impact on the company.

Context: Kalpataru's GST History

This development follows a series of earlier disclosures made by Kalpataru Limited regarding GST-related orders received by ALPL. ALPL has faced multiple GST assessments spanning financial years 2017-18 through 2021-22, with the subsidiary contesting various demands across different levels of the tax appellate hierarchy.

About Kalpataru Limited

Kalpataru Limited is an integrated real estate development company with over 113 completed projects across Mumbai, Thane, Panvel, Pune, Hyderabad, Indore, Bengaluru, and Jodhpur, specializing in luxury, premium, and mid-income residential, commercial, and retail developments. Founded in 1969 and headquartered in Mumbai, Kalpataru Limited has established itself as a premier real estate developer with a 56-year legacy, operating under the leadership of Managing Director Parag Munot, specializing in luxury residential towers, commercial hubs, and integrated townships across Mumbai Metropolitan Region (MMR) and Pune.

Ananta Landmarks Private Limited (ALPL) is a Private Limited Indian company incorporated on 01 January 2002, formerly known as Kalpataru Landmarks Private Limited, and is engaged in the Real Estate and Construction Industry.