Escorts Kubota Limited announced that Superintendent of Central Goods and Services Tax, Range XXXII, Jaipur, Rajasthan has raised tax demands of INR 5,61,446 on the matter pertaining to eligibility of input tax credit, along with penalty of INR 84,384 and interest 18% per annum. Name of the authority: Superintendent, Central Goods and Services Tax, Range XXXII, Jaipur, Rajasthan; Nature and details of the action(s) taken, initiated or order(s) passed: Tax demand of INR 1,310 on the issue of eligibility of input tax credit along with Interest at 18% per annum and Penalty of INR 20,000. Tax demand of INR 3,24,166 on the issue of eligibility of input tax credit along with Interest at 18% per annum and Penalty of INR 32,416.

The Company will be filing an Appeal before the appellate authority in this matter. Tax demand of INR 2,35,970 on the issue of eligibility of input tax credit along with Interest at 18% per annum and Penalty of INR 31,968. The Company will be filing an Appeal before the appellate authority in this matter.

Date of receipt of direction or order, including any ad-interim or interim orders, or any other communication from the authority: May 8, 2024; Impact on financial, operation or other activities of the listed entity, quantifiable in monetary terms to the extent possible: Total Tax Demand of INR 5,61,446 along with interest @ 18% per annum and total penalty of INR 84,384. Name of the Opposing Party: Superintendent, Central Goods and Services Tax, Range XXXII, Jaipur, Rajasthan. Court/Tribunal/Agency, where litigation is filed: Superintendent, Central Goods and Services Tax, Range XXXII, Jaipur, Rajasthan; Brief details of dispute/litigation: Tax demand of INR 1,310 on the issue of eligibility of input tax credit along with Interest at 18% per annum and Penalty of INR 20,000.

Tax demand of INR 3,24,166 on the issue of eligibility of input tax credit along with Interest at 18% per annum and Penalty of INR 32,416. The Company will be filing an Appeal before the appellate authority in this matter. Tax demand of INR 2,35,970 on the issue of eligibility of input tax credit along with Interest at 18% per annum and Penalty of INR 31,968.

The Company will be filing an Appeal before the appellate authority in this matter.