Kirloskar Brothers Limited has informed the Exchange about Action(s) initiated or orders passed
KIRLOSBROS · price
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Awaiting price reaction for this filing.
Kirloskar Brothers Limited has disclosed a GST order dated December 31, 2025 from the Additional Commissioner of CGST and Central Excise, Chennai North Commissionerate. The order claims a tax demand of Rs. 5.29 crore, an equal penalty amount (~Rs. 5.29 crore), and applicable interest, covering the period FY 2018-19 to FY 2023-24 for its Chennai Regional Office. The allegations include ineligible Input Tax Credit on cross-charge invoices, non-reversal of ITC on raw material shortages, short payment of GST on certain income heads, and invocation of Section 74 alleging suppression. The company discovered the order on January 2, 2026 via the GST portal and has 90 days to pay or appeal. The company is seeking legal advice and does not foresee any immediate financial or operational impact at this stage.
Potential financial liability of around Rs. 10.59 crore (tax + penalty) plus interest if the order is upheld after appeal, though the company plans to contest it. This is a moderate tax dispute and is unlikely to materially affect the stock in the near term, but investors should watch for updates on the appeal outcome.