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An announcement from Suraj Estate Developers Limited ( (IN:SURAJEST) ) is now available.
Suraj Estate Developers Limited has disclosed that it received an adjudication order and show cause notice from the Additional Commissioner of CGST & Central Excise, Mumbai Central, following an audit covering financial years 2018-19 to 2022-23. The order, dated 15 December 2025 and received on 19 December 2025, raises a GST demand of Rs 18.61 crore plus interest and imposes a penalty of Rs 18.43 crore. Based on legal advice, the company contends that the demand is largely not sustainable because it relates mainly to payments made to the Brihanmumbai Municipal Corporation and other statutory authorities, and it does not expect any material impact on its financials, operations or other activities. Suraj Estate intends to challenge the order by filing an appeal with the Commissioner (Appeals-II).
More about Suraj Estate Developers Limited
Suraj Estate Developers Limited is a Mumbai-based real estate developer focused on residential and related property development in Maharashtra’s capital region. The company operates in the real estate and construction industry, with projects concentrated primarily in the city’s key urban micro-markets.
Average Trading Volume: 22,466
Technical Sentiment Signal: Sell
Current Market Cap: 11.45B INR
For detailed information about SURAJEST stock, go to TipRanks’ Stock Analysis page.