Kirloskar Electric gets GST show cause notice for Rs 12.57 lakh
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Kirloskar Electric received a GST show cause notice from Karnataka tax authorities demanding Rs 12.57 lakh (Rs 7.61 lakh tax plus Rs 4.95 lakh interest) for the April 2022 to March 2023 audit period. Allegations include reduction of outward liability, excess claim, and reversible input tax credit. Company says there is no material impact on finances or operations and is exploring options to contest the demand.
Small tax demand relative to company size; company plans to contest. No material financial or operational impact stated by management.