Escorts Kubota Limited has been informed of an order by the Assistant Commissioner of GST, Chennai, for the financial year 2022-23. The order confirms a tax demand of ₹2,44,46,239, along with interest of ₹1,71,19,066 and a penalty of ₹24,44,624, totaling approximately ₹4.40 crore plus further interest, on account of input tax credit reconciliation. The company plans to file an appeal against this order.
GST Authority Issues Order Against Escorts Kubota
Escorts Kubota Limited has received an order from the Assistant Commissioner of GST, Chennai (South), Tamil Nadu, pertaining to the financial year 2022-23. This order confirms a tax demand of ₹2,44,46,239. Additionally, interest charges of ₹1,71,19,066 and a penalty of ₹24,44,624 have been levied, related to the issue of Input Tax Credit reconciliation.
Company to Contest the Demand
In response to this development, Escorts Kubota Limited has stated its intention to file an appeal before the appropriate appellate authority. The company views this order as a matter that requires further legal recourse. The date of occurrence for this event was recorded as August 21, 2026, at 05:22 P.M. (IST).
Disclosure Details
The disclosure, made in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, includes details as per Annexure I. This annexure outlines the authority issuing the order, the nature and details of the action taken, the date of receipt of the order, and other relevant information regarding the contravention and its potential impact. The financial implications of the demand, interest, and penalty are significant for the period under review.
Source: BSE
