Kalpataru Projects International Limited announced that on 09th July, 2024 it has received tax assessment order with demand of tax and penalty thereon due to alleged wrongful addition of offshore revenue and disallowance of certain expenses incurred by the branch for the financial year 2018-19. The branch intends to exercise the right to file objections against the said Order. Name of the authority: Ministry of Finance, Kuwait.

Details: The Authority has raised the total demand of KD 6,729 (~ INR 1.835 million) for the financial year 2018-19 consisting of: Tax liability of KD 5,195 (~ INR 1.4 million), long with Penalty of KD 1,534 (~ INR 0.4 million).