Godrej Landmark Redevelopers Receives GST Demand, Penalty Worth Rs 258.78 Cr
GPDL will contest the ruling in the proper court, in accordance with the law, and there will be no material impact on the company’s finances, operations, or other activities as a result of this, the company stated in a filing
Godrej Landmark Redevelopers (GLRPL), now merged with Godrej Projects Development (GPDL), received GST demand of Rs. 129.39 crore along with interest and a penalty of Rs 129.39 crore.
The order relates to a project that GLRPL developed in Mumbai and involves alleged GST non-payment. “GPDL will contest the ruling in the proper court, in accordance with the law, and there will be no material impact on the company’s finances, operations, or other activities as a result of this,” the company stated in a filing.
Godrej Redevelopers (Mumbai) (GRMPL), another of its subsidiaries, had received a recent order for a GST demand of Rs 48.31 crore coupled with interest. The ruling allegedly related to one of the projects produced by GRMPL in Mumbai and concerned the non-payment of GST.
Additionally, Godrej Properties’ allocation of two neighbouring plots in Sampada, Navi Mumbai, had been revoked by CIDCO. However, the company has appealed the cancellation decision by submitting a writ petition to the Bombay High Court. “Based on the company’s assessment and prevailing law, the Company reasonably expects a favourable outcome given the current legal position,” the regulatory statement stated.
