JK Tyre & Industries Limited has received a show cause notice from GST authorities in Chennai, proposing a demand of ₹94.86 crore for financial year 2022-23. The notice is dated September 29, 2026, and alleges discrepancies in the classification of supplies and excess claims of input tax credit (ITC), among other issues.
The proposed demand includes ₹55.12 crore in tax. It also includes ₹34.23 crore in interest. The penalty proposed is ₹5.51 crore.
The company said it believes the allegations are unfounded and that no actual discrepancy exists. JK Tyre is examining the notice and intends to respond to the GST authorities. The company does not anticipate a financial impact at this stage, as the matter has yet to be adjudicated.