NTPC faces ₹168.6m tax demand from Delhi authorities

NTPC Limited announced on December 17, 2025, that it has received an order from the assistant commissioner state tax, GST, Delhi, for the payment of tax, interest, and penalty totaling ₹16,86,10,726. The demand, issued under Section 73 of the CGST Act and Delhi CGST Act, stems from alleged discrepancies in tax liability shown in GSTR-1, GSTR-3B, and GSTR-9 filings for the financial year 2021-22. Specifically, the order highlights a mismatch in tax liability and the disallowance of Input Tax Credit (ITC) related to common credit, arguing that it needs to be reversed due to NTPC's exempt supply status.

The total demand comprises ₹9,51,17,485 in tax, ₹6,39,81,493 in interest, and ₹95,11,748 in penalty. NTPC has stated its intention to file an appeal against this order before the commissioner appeal-1 Delhi GST within the prescribed timeline.

Despite the substantial demand, NTPC has assured that the order will not have any material impact on its financials, operations, or other activities. The company's announcement was made in compliance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.