AFCONSAfcons Infrastructure Limited
Afcons receives an appeals order confirming a GST demand with ₹38.82 crore of tax and an equal penalty, and will appeal further
- Legal
- Infrastructure
Afcons Infrastructure Limited has told the exchanges that on 14 Oct 2026 it received an order from the Commissioner (Appeals), Thane, CGST and Central Excise, confirming the GST order it had earlier disclosed. That order, dated 27 Jan 2025, covers FY2017-18 to FY2018-19 (July 2017 to March 2019) and demanded tax of ₹38.82 crore, interest as applicable and a penalty of ₹38.82 crore.
The company says the order is not expected to have a material adverse impact on its financials, operations or other activities. It intends to challenge the order and pursue further legal remedies by filing an appeal before the GST Appellate Tribunal (GSTAT).
The filing follows the company's earlier intimations of 1 Feb 2025 and 3 Feb 2025.
Inference
The first-level appeal has been decided against the company, so the demand stands unless the tribunal sets it aside. The amounts involved are tax of ₹38.82 crore, a penalty of the same amount and interest, which the filing does not quantify.
The company states that the impact is not expected to be material, and the next step is the appeal to GSTAT. Shareholders may want to follow the appeal and see how the company treats the amount in its accounts.
Reference: Original filing (PDF)
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