BSECompany Update9 Oct 2026 · 9 Oct 2026, 04:24 pm
As per the Letter attached
Afcons Infrastructure Ltd · 544280
✦ AI SummaryRegulatory
Afcons Infrastructure Ltd has received a demand order from the Assistant Commissioner, CGST, Division-VII, Ahmedabad North, for Rs. 1,18,38,402/-, comprising tax amounting to Rs. 59,19,201/-, interest yet to be quantified, and penalty amounting to Rs. 59,19,201/-, in the matter of Input Tax Credit excess availed and utilized for the financial year FY 2020-21. The company disputes and contests the said order in its entirety and intends to file an appeal before the appropriate appellate authority.
Analysis Scores
Earnings Impact5/10
Growth Catalyst2/10
Governance Concern3/10
Regulatory Risk8/10
Balance Sheet Risk2/10
Liquidity Impact6/10
Market Sentiment5/10
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Full Announcement
Afcons Infrastructure Ltd - 544280 - Announcement Under Regulation 30
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October 09, 2026
To To
BSE Limited National Stock Exchange of India Ltd
Corporate Relationship Dept., Exchange Plaza, Plot No. C/1, G Block,
Phiroze Jeejeebhoy Towers, Bandra-Kurla Complex,
Dalal Street, Mumbai 400001. Bandra (East), Mumbai 400 051.
Scrip Code: 544280 Symbol: AFCONS
Sub: Disclosure under Regulation 30 of the Securities and Exchange Board of India
(Listing Obligations and Disclosure Requirements) Regulations, 2015
Pursuant to regulation 30 of the Securities and Exchange Board of India (Listing Obligations and
Disclosure Requirements) Regulations, 2015 (LODR Regulations) read with S SEBI Master Circular
no. SEBI/HO/CFD/PoD2/CIR/P/0155 dated January 30, 2026, the details of the order received by
the Company from the office of the Assistant Commissioner, CGST, Division-VII, Ahmedabad North
GST Authority is enclosed herewith as Annexure A.
You are requested to take the same on record
Thanking you,
Yours faithfully,
For Afcons Infrastructure Limited
Gaurang Parekh
Company Secretary and Compliance Officer
Membership No.: F8764
Afcons Infrastructure Limited
Regd. Office: Afcons House, 16, Shah Industrial Estate, Veera Desai Road, Azad Nagar,
Andheri(W), Mumbai - 400 053, India, Tel.: +91-22-6719 1000
www.afcons.com | CIN No.: L45200MH1976PLC019335
Annexure A.
Particulars Details
Name of the authority Assistant Commissioner, CGST, Division-VII,
Ahmedabad North.
Nature and details of the action(s) Issuance of demand Order w.r.t to tax, Interest and
taken, initiated or order(s) passed penalty confirmed under section 74(1) of the CGST Act
2017.
Date of receipt of direction or October 8, 2026
order, including any ad interim or
interim orders, or any other
communication from the
authority
Details of the violation(s)/ Order has been passed with respect to Show Cause
contravention(s) committed or Notice for Financial Year FY 2020-21 proposing demand
aggregating to Rs. 1,18,38,402/- (comprising Tax
alleged to be committed
amounting to Rs. 59,19,201/-; Interest under section
50(3) yet to be quantified and Penalty amounting to Rs.
59,19,201/-) in the matter of Input Tax Credit excess
availed and utilized.
Impact on financial, operation or The Company disputes and contests the said order in
other activities of the listed entity, its entirety and intends to file an appeal before the
quantifiable in monetary terms to appropriate appellate authority in accordance with the
applicable provision of law.
the extent possible
There is no financial impact on the Company arising
from this matter
Afcons Infrastructure Limited
Regd. Office: Afcons House, 16, Shah Industrial Estate, Veera Desai Road, Azad Nagar,
Andheri(W), Mumbai - 400 053, India, Tel.: +91-22-6719 1000
www.afcons.com | CIN No.: L45200MH1976PLC019335