JK Tyre & Industries Limited has informed the Exchange about Action(s) taken or orders passed
JKTYRE · price
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JK Tyre & Industries has received an order from the Commissioner (Appeals), CGST and Central Excise, Bhopal, ruling against the company in a GST matter. The dispute involves reversal of input tax credit of Rs. 2.03 Crores availed on lease rent of machineries, along with applicable interest and a Rs. 0.20 Crores penalty, for the period October 2019 to March 2020. The company had filed an appeal on 26th November 2024 challenging the original order, but the Commissioner (Appeals) has now upheld the original demand. The company has stated it has a strong case and intends to appeal before higher authorities. Total financial exposure is approximately Rs. 2.23 Crores plus interest, which the company considers not material to its operations.
The total liability of around Rs. 2.23 Crores is small relative to JK Tyre's overall scale and is unlikely to have a meaningful impact on the stock price. However, the loss at the first appellate stage is mildly negative, and the final outcome will depend on further appeals before higher tax authorities.