Jtekt India Limited has informed the Exchange about General Updates
JTEKTINDIA · price
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Awaiting price reaction for this filing.
JTEKT India informed the exchange that its former subsidiary JTEKT Sona Automotive India (now amalgamated with JTEKT India) has received a Show Cause Notice from the Joint Commissioner of State GST, Chennai, dated June 30, 2025. The notice relates to the applicability of GST on expats under the Reverse Charge Mechanism. The tax demand is for IGST of Rs. 24.71 lakhs, along with penalty under Section 74 and interest under Section 50 of the CGST Act, 2017. The company has stated there is no material impact on its financials, operations, or other activities and is in the process of filing its reply to the notice.
The Rs. 24.71 lakh demand is immaterial relative to the size of the company, and the matter is at a notice stage with no order passed. Shareholders are unlikely to see any meaningful impact on the stock; the development is procedural and the company retains the right to contest.