Kirloskar Oil Engines Limited has announced the receipt of a Show Cause Notice from the Deputy Commissioner of State Tax, Pune. The notice pertains to an alleged ITC (Input Tax Credit) mismatch for the FY 2022-23, resulting in a tax demand, interest, and penalty. The company is currently preparing a reply to the authority.
GST Authority Notice Issued
Kirloskar Oil Engines Limited has been served with a Show Cause Notice by the Deputy Commissioner of State Tax, Pune, Maharashtra. This notice, dated 1st June 2026, was issued under Section 73 of the Maharashtra Goods and Services Tax Act, 2017, and the Central Goods and Services Tax Act, 2017. The notice alleges an ITC Mismatch for the Financial Year 2022-23, leading to the imposition of a tax demand, interest, and penalty.
Financial Impact and Response
The stated demand includes a tax amount of Rs. 3,18,52,849/-, interest of Rs. 2,31,38,259/-, and a penalty of Rs. 31,85,286/-. The company has indicated that it does not foresee any material impact on its financial operations or other activities as a result of this notice. Kirloskar Oil Engines Limited is in the process of preparing and filing a necessary reply before the appropriate authority within the prescribed timelines.
Disclosure Details
The details of the action taken by the authority include the order for demand of the aforementioned tax, interest, and penalty. The date of receipt of this order by the company was 1st June 2026. The alleged violation pertains to an ITC Mismatch for the FY 2022-23.
Source: BSE
