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Sunteck Realty jumps as GST authority drops tax demand

01-Jan-26   14:47 Hrs IST
In a regulatory filing, the company said the Office of Goods and Services Tax passed an order on 31 December 2025, accepting its submissions. The order nullified the entire tax demand, along with interest and penalty.

The demand had arisen from a show cause notice issued in September 2025 under Section 73 of the GST Act. It related to an alleged tax liability of about Rs 5.99 crore on Transferable Development Rights transactions for FY22.

Sunteck Realty had earlier said the demand lacked merit. It argued that GST on the transaction was already paid by the supplier under the forward charge mechanism. The company had also flagged errors in the computation of the demand.

Sunteck Realty is a Mumbai-based luxury real estate developer with a development portfolio of 50 million square feet across 32 projects.

The company's consolidated net profit jumped 41.4% to Rs 48.97 crore on 49.3% increase in Revenue from operations to Rs 252.37 crore in Q2 FY26 over Q2 FY25.

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