Escorts Kubota Receives ₹4.4 Crore GST Demand Order

Key Quantitative Figures

The Assistant Commissioner of GST, Chennai (South), Tamil Nadu, has passed an order under Section 73 of the GST Act, 2017 for the Financial Year 2022-23, confirming the following monetary demands:

• Tax Demand: ₹2,44,46,239/-
• Interest: ₹1,71,19,066/-
• Penalty: ₹24,44,624/-
• Total Financial Impact: ₹4,40,09,929/-

The issue leading to the demand is related to Input tax credit reconciliation.

Parties Involved

• Issuing Authority: Assistant Commissioner of GST, Chennai (South), Tamil Nadu
• Listed Entity: Escorts Kubota Limited

Company's Response and Stated Rationale

The Company has stated its intention to file an appeal before the appellate authority against this order.

Financial Impact

The financial impact is fully quantifiable and stated in the order, totaling ₹4.40 crore.