PSP Projects Receives GST Penalty Order of ₹26.67 Lakhs for FY19
PSP Projects Limited has received an order in Form GST DRC-07 from the Office of the State Tax Officer, Ahmedabad, imposing a penalty of ₹26,66,564/- for the Financial Year 2018-2019. The order, issue...
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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 has been fined by a tax authority, which is a negative development.
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PSP Projects Receives GST Penalty Order of ₹26.67 Lakhs for FY19
December 19, 2025, 06:45 AM
PSP Projects Limited has received an order in Form GST DRC-07 from the Office of the State Tax Officer, Ahmedabad, imposing a penalty of ₹26,66,564/- for the Financial Year 2018-2019. The order, issued under Section 74 of the IGST/CGST/GGST Act, 2017, alleges that the company claimed ineligible Input Tax Credit from cancelled, non-genuine, and non-existent taxpayers, as well as return/tax defaulters.
The company received this order on December 18, 2025. PSP Projects Limited has stated that there is no material impact on its financials or operations due to this order. The company is currently in the process of filing an appeal with the appellate authority based on its assessment of the facts and prevailing law.
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