Realty firm Kolte-Patil Developers Ltd on Thursday (June 4) said it has received intimations from the Office of the Assistant Commissioner of State Tax, Mumbai, for ascertainment of GST liability amounting to ₹64.41 crore, including interest and penalties.
The company said the communication was received on June 3, 2026, and pertains to financial years from April 1, 2020, to March 31, 2026.
According to the disclosure, the GST liability relates to the purchase of Transferable Development Rights (TDR), construction services provided to society members under redevelopment projects, and development rights procured from society members in lieu of construction services under redevelopment projects.
The total GST liability claimed by the authority stands at ₹64.41 crore, including interest and penalties. The communication also includes a penalty of ₹6.95 crore.
Kolte-Patil Developers said the levy of GST along with interest and penalty is “wholly erroneous” and “not sustainable in the eyes of law.”
The company said it has reasonable grounds to defend its position and will take appropriate legal action within permissible timelines. The developer added that based on its preliminary assessment, it does not envisage any relevant impact on its financials, operations or other business activities.
“The company, based on its preliminary assessment, believes that the levy of GST along with interest and penalty is wholly erroneous and not sustainable in the eyes of law and without appreciating the facts of our case, and hence it is arbitrary, unjustified and unsustainable in law.
The company has reasonable grounds to defend its position in the said matter, and it will take appropriate legal action within the permissible timelines,” Kolte-Patil Developers said in a regulatory filing.
