Escorts Kubota Limited has been issued an order confirming a penalty of ₹10,08,000 by the Deputy Commissioner of State Taxes (Appeal-I) in Kashmir. The penalty relates to the detention of goods in transit due to insufficient supporting documents. The company has stated its intention to file an appeal against this order before the higher appellate authority.
Tax Penalty Issued
Escorts Kubota Limited has disclosed that the Deputy Commissioner of State taxes (Appeal-I), Kashmir, Jammu & Kashmir, has passed an order imposing a penalty of ₹10,08,000. This penalty has been levied under the provisions of the GST Act, 2017, stemming from the detention of goods in transit attributed to a lack of sufficient supporting documentation.
Company’s Response
In response to this development, the company has indicated its plan to challenge the order. Escorts Kubota Limited intends to file an appeal against the imposed penalty before the appropriate higher appellate authority. This legal recourse suggests the company contests the validity or quantum of the penalty.
Disclosure Details
The event’s occurrence date is noted as September 16, 2026, at 07:00 P.M. (IST). This disclosure is made in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and aligns with the company’s commitment to transparency with its stakeholders regarding material events.
Source: BSE
