JK Tyre is facing ₹17.1 Million tax demand for input tax credit

JK Tyre & Industries Ltd has been issued a tax order calling for ₹17.1 million in regard to input tax credit (ITC) differences. This comes after a past penalty of ₹7.2 crore was charged by the GST Authority in December 2024 for ITC discrepancies. The firm has asserted that there was no intent to abuse the ITC, as their end products do not face compensation cess. JK Tyre is likely to appeal this order in higher authorities, similar to the last levy. Though there have been tax issues, the company recently tied up for a $100 million sustainability-linked loan with the International Finance Corporation, which proves its desire for growth and green initiatives.
Source: JK Tyre & Industries Ltd Regulatory Filing