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ideaForge Faces Rs 109 Crore GST Notice, Plans Legal Battle

By Business DeskideaForge Faces Rs 109 Crore GST Notice, Plans Legal Battle

Drone manufacturer ideaForge Technology plans to legally contest a massive Rs 109.25 crore GST demand notice covering the period from July 2017 to March 2022.

Drone manufacturer ideaForge Technology has been served a Goods and Services Tax demand notice amounting to approximately Rs 109.25 crore. This regulatory action covers the period from July 2017 to March 2022 and encompasses the principal tax amount, applicable interest, and penalties.

Company Response

Management at the firm has formally announced its intention to challenge this order through legal and administrative remedies. The company maintains that it has consistently adhered to tax laws and regulations, asserting that the tax authorities’ findings and subsequent demand are completely unjustified.

Key Details

  • Tax demand amount: Rs 109.25 crore
  • Covered period: July 2017 to March 2022
  • Company action: Preparing to contest order

The company continues to prepare its defense as it navigates this significant tax dispute. Market participants will be closely watching how the legal proceedings unfold as management pursues administrative and legal remedies to resolve the matter.

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