02-Oct-2026 11:55:09

IDEAFFORGE : ORDER DEMANDING ₹545.86 MN TAX & PENALTY

• Additional Commissioner CGST & Central Excise, Belapur demanded tax and penalty of ₹545.86 million for periods 2022-24. • Order demands tax liability under section 74 of CGST Act, 2017 read with MGST & IGST acts. • Company believes it wrongly discharged GST at 5% and owes a differential rate of 13%. • Company made necessary submissions against the show-cause cum demand notice. • Government clarified GST rate for drones is 5% in 2025. • No immediate material impact on financials or operations expected. • Company will file an appeal against the order.

Ideaforge Technology Ltd

← Back to feed