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Additionally, Godrej Properties’ allocation of two neighbouring plots in Sampada, Navi Mumbai, had been revoked by CIDCO.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.