Kirloskar Brothers Limited has informed regarding Update on notice under the APGST Act, 2017
KIRLOSBROS · price
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Kirloskar Brothers Limited has filed a Writ Petition (WP/31611/2025) before the High Court of Andhra Pradesh at Amaravati challenging a GST demand notice received from the Andhra Pradesh State Tax Department. The demand of approximately Rs. 15.48 crore (Rs. 15,48,02,928) is for the year 2017-18 and is linked to an unincorporated Joint Venture (IVRCL-KBL-MEIL) that executed a project for the Andhra Pradesh Water Resources Department. The company has also prayed for an interim stay on the demand and the assessment order. Earlier, in February 2025, a similar notice of around Rs. 15.48 crore was issued for FY 2023-24 against the same JV. Financial implications cannot be determined at this stage, and the company will keep exchanges updated on further developments.
The Rs. 15.48 crore demand is not material relative to the company's size, but an adverse ruling could still affect earnings. The fact that the company is actively contesting the demand in the High Court is mildly reassuring, though the stay is only being requested, not yet granted, so the tax liability remains contested rather than resolved.