KEC International’s VAT appeal for the period 2019-2022 was rejected by Bangladesh’s VAT Tribunal. The company, citing discrepancies, intends to challenge the decision in the High Court.
The VAT Tribunal, through its ruling dated November 20, 2024, and received on December 1, 2024, dismissed the appeal filed by the Bangladesh Branch of KEC International.
The appeal challenged the VAT demand issued by the Customs, Excise & VAT Commissionerate, Dhaka (South) in an order dated April 29, 2024.
This demand pertained to the period ending June 2022 and was based on alleged discrepancies between financial records and VAT returns.
Meanwhile, a separate appeal concerning the period from July 2017 to June 2019 remains under review by the tribunal. KEC International has stated its intention to take necessary legal actions to contest the tribunal’s decision in the High Court of Bangladesh.
On December 03, 2024, KEC International’s share price traded 2.92% higher at ₹1,090.15 at 1:35 PM on the NSE. The stock opened at ₹1,065, higher than ₹1,059.25 at the previous close.
KEC International is a leading global infrastructure engineering, procurement, and construction (EPC) company. Part of the RPG Group, it operates in diverse sectors, including power transmission and distribution, railways, civil construction, and renewable energy. With a presence in over 100 countries, KEC is known for executing large-scale infrastructure projects, contributing significantly to the development of essential services worldwide.
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