Escorts Kubota receives GST order for ₹2.44 Crore demand; plans appeal
Escorts Kubota Limited received a GST order for a tax demand of ₹2.44 crore, plus ₹1.71 crore in interest and ₹0.24 crore in penalty, related to input tax credit reconciliation for FY 2022-23. The company plans to appeal the order.
The total financial implication of the tax demand, interest, and penalty is significant (approximately ₹4.40 crore), impacting the company's financials, though the company plans to appeal.
The company has received a tax demand, interest, and penalty order from GST authorities, which is a negative development.
Escorts Kubota Limited has been served an order by the Assistant Commissioner of GST, Chennai (South), Tamil Nadu. The order, passed under Section 73 of the GST Act, 2017 for the Financial Year 2022-23, confirms a tax demand of ₹2,44,46,239/-, along with interest amounting to ₹1,71,19,066 and a penalty of ₹24,44,624/-. This pertains to issues identified during Input Tax Credit reconciliation.
The company has stated its intention to file an appeal before the appellate authority against this order.
The event, the passing of the order, occurred on August 21, 2026, at 05:22 P.M. (IST).
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