ideaForge Technology says it received a disputed GST order demanding ₹54.586 crore in tax plus an equal ₹54.586 crore penalty for January 2022 to March 2024. The combined amount is ₹109.172 crore, before any separately stated interest. The company said it would appeal; its 2 October 2026 exchange disclosure did not say an appeal had already been filed.
The amount in the supplied headline, ₹545.86 crore, is ten times the tax demand disclosed in the filing: ₹545.86 million converts to ₹54.586 crore. The primary filing’s figures are used below.
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How much is the ideaForge GST demand?
The order separately demands ₹545.86 million (₹54.586 crore) in tax and ₹545.86 million (₹54.586 crore) as a penalty, according to ideaForge’s 2 October 2026 disclosure to NSE and BSE. Added together, those two amounts equal ₹1,091.72 million (₹109.172 crore). The filing does not state a separate interest amount, so the combined figure is before any separately stated interest. ideaForge’s exchange disclosure
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The order was issued by the Additional Commissioner CGST & Central Excise, Belapur, under Section 74 of the Central GST Act read with the MGST and IGST Acts. It covers January 2022 through March 2024. The authority alleged that ideaForge wrongly applied 5% GST under Schedule I entry 244 and short-paid tax by a differential 13%, as summarized in the company’s filing. That is the authority’s allegation recorded in the disclosure, not a final finding of liability established by the sources cited here. ideaForge’s exchange disclosure
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What does ideaForge say about the 2025 GST clarification?
In its filing, ideaForge says that the government clarified in 2025 that drones attract 5% GST. The disclosure does not identify the clarification, give its date, or explain how it applies to supplies during the earlier January 2022–March 2024 period. Its relevance to this order is therefore part of the unresolved dispute, not a settled conclusion established by the filing. ideaForge’s exchange disclosure
Will ideaForge appeal the GST demand?
The company said it would file an appeal with the appropriate authority in consultation with its tax advisers and expressed an expectation of a favourable outcome at the appellate forum. Those are ideaForge’s stated intentions and expectations, not a decision by an appellate body. The 2 October 2026 disclosure says an appeal would be filed; it does not establish that one had already been filed or that a stay had been granted. ideaForge’s exchange disclosure
Will the GST order hit ideaForge’s profits?
ideaForge said that, at the time of its disclosure, it did not expect an immediate material impact on its financials, business operations or other activities while the matter remained unresolved. This is the company’s assessment of the immediate effect, not a ruling on the amount ultimately payable. The disclosure does not quantify a provision or explain any separate interest amount. ideaForge’s exchange disclosure
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The company said it received the order on 1 October 2026 and disclosed it to the stock exchanges on 2 October 2026. The matter was therefore at the order-and-planned-appeal stage in that filing; its subsequent status is not established by that disclosure. ideaForge’s exchange disclosure
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