ITD Cementation India Limited informed that the Company has received demand order from the Assistant Commissioner, Sector- 3, Mobile Squad 2, G B Nagar, Uttar Pradesh, u/s 129 of the Central Goods and Services Tax Act, 2017 against the Company, on account of error in delivery challan during transit/movement of goods. The Company will be preferring to file an appeal against the said Order as minor error in delivery challan during transit should not result in levy of such huge penalty and it does not have any material financial impact on the Company. Nature and details of the action(s) taken, or order(s) passed; The Company has received an Order from the Assistant Commissioner u/s 129 of Central Goods and Services Tax Act, 2017 for payment of penalty amounting to INR 551,713 in relation to penalty levied for minor error in delivery challan during transit /movement of goods.
Date of receipt or direction of order: The Order dated 7 February, 2025 has been received by the Company on 7 February, 2025 at around 9.54 pm. Impact on financial, operation: The Company will be preferring to file an appeal against the said Order as minor error in delivery challan during transit should not result in levy of such huge penalty and it does not have any material financial impact on the Company.
ITD Cementation India Limited is an India-based engineering and construction company. The Company is involved in the heavy civil, infrastructure, and engineering, procurement and construction (EPC) business and operates in India. The Company is engaged in urban infrastructure, Mass Rapid Transport Systems (MRTS) and airports; highways, bridges and flyovers; maritime structures; industrial structures and buildings; water and wastewater; foundation and specialist engineering, and hydro, dams, tunnels and irrigation. It is focused on construction of flyovers, underpasses and river bridges using specialized foundation techniques. The Company offers a modern and comprehensive range of construction techniques for the construction of piles and diaphragm walls, ground improvement, drilling grouting works, rock anchors, slope stabilization and rehabilitation work. The Company’s subsidiaries include ITD Cementation Projects India Limited, ITD Cemindia JV and ITD Cem-Maytas Consortium.
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