PSP Projects Receives GST Order with ₹16.88 Lakh Penalty
PSP Projects Limited has received an Order in Form GST DRC-07 from the Office of State Tax Officer, Ahmedabad, under Section 73 of the CGST/GGST Act, 2017. The order, received on December 19, 2025, pe...
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Why is PSP Projects Limited in the news today?
PSP Projects Limited (PSPPROJECT) is in the news due to the company received a penalty order, which is negative, but it has stated that there is no material impact and it plans to appeal, which mitigates the negativity.
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PSP Projects Receives GST Order with ₹16.88 Lakh Penalty
December 20, 2025, 06:54 AM
PSP Projects Limited has received an Order in Form GST DRC-07 from the Office of State Tax Officer, Ahmedabad, under Section 73 of the CGST/GGST Act, 2017. The order, received on December 19, 2025, pertains to the Financial Year 2021-22 and imposes a penalty of ₹16,88,375 (INR 16,88,375).
The alleged contravention involves the claim of ineligible Input Tax Credit under section 17(5) of the CGST/GGST Act, 2017, and non-payment of tax on an insurance claim received, as per the provisions of the same section.
The company stated that there is no material impact on its financials or operations due to this order. PSP Projects Limited is in the process of filing an appeal with the appellate authority regarding this matter.
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