Innovative Tyres & Tubes Limited — Important, 04-02-2025: Updates

Innovative Tyres & Tubes Limited has received a notice from the Commissionerate of Taxes, Government of Gujarat, regarding outstanding interest payments on self-assessed tax for multiple financial years. The notice highlights an accumulated interest liability of ₹2.18 crore, primarily due to late submissions of GST returns, leading to a penalty at an annual interest rate of 18%. The company is advised to either pay the detailed interest as computed in the attached annexure within 15 days or provide proof of any payments made to avoid recovery actions. This situation calls for attention as failure to comply could lead to further financial penalties and operational disruptions. Investors should monitor this development closely, as it may affect the financial stability and cash flow of the company.