JK Tyre & Industries Limited — Others, 16-12-2024: Action(s) taken or orders passed

JK Tyre & Industries Ltd. has disclosed a GST order demanding Rs. 13.07 Cr as a net compensation cess liability, along with penalties totaling Rs. 720.11 Cr. The order pertains to alleged non-reversal of Input Tax Credit related to compensation cess for the Karnataka GST turnover from July 2017 to March 2022. The company believes it has a strong case to appeal the order, asserting no material impact on its financials or operations. This situation may create investor uncertainty, but JK Tyre’s proactive approach to contest the order could support a positive outlook in the long run.