Regulatory Disclosure Under SEBI Listing Obligations
New Delhi, February 3, 2025 – JK Tyre & Industries Ltd (NSE: JKTYRE | BSE: 530007) has disclosed that it has received a Goods and Services Tax (GST) demand order amounting to ₹8.06 crore, along with an additional penalty of ₹0.81 crore, as per a filing under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Key Details of the GST Demand Order
The demand order was issued by the Additional Commissioner of CGST & Central Excise, Bhopal, pertaining to the reversal of Input Tax Credit (ITC) availed on the lease rent of machineries. The company received the order on
February 3, 2025, at 4:00 PM.
| Parameter | Details |
|---|
| Authority Issuing Order | Additional Commissioner, CGST & Central Excise, Bhopal |
| Nature of Action | Reversal of ITC on lease rent of machineries |
| Total Tax Demand | ₹8.06 crore |
| Penalty Imposed | ₹0.81 crore |
| Date of Receipt | February 3, 2025, 4:00 PM |
Company’s Response and Financial Impact
JK Tyre has stated that it is currently evaluating the contents of the order and assessing its legal and financial implications. The company believes it has a
strong case to appeal before higher authorities. Furthermore, JK Tyre has clarified that the demand order is
not expected to have a material impact on its financials, operations, or other business activities.
Next Steps
- JK Tyre will review the order and determine legal recourse.
- The company intends to appeal against the demand.
- There is no immediate operational or financial disruption expected from the tax order.
Investors and stakeholders are advised to monitor further regulatory developments as JK Tyre evaluates its legal options.
