Jtekt India Limited — Important, 27-11-2024: General Updates

A Show Cause Notice has been received from the Office of the Dy. Excise and Taxation Commissioner (ST) regarding JTEKT Fuji Kiko Automotive India Limited, a subsidiary that has merged with JTEKT India Limited. The notice demands GST payment of ₹4.42 crore due to identified mismatches related to Input Tax Credit and discrepancies in tax liability associated with E-way bills. Despite the demand, the Company clarifies that there is no expected financial impact from this notice on its operations. Watch closely as this situation unfolds, but current indicators suggest stability.