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Balkrishna Industries Limited ( (IN:BALKRISIND) ) has shared an announcement.
Balkrishna Industries Limited has disclosed that it received an adjudication order from the Additional Commissioner of CGST & Central Excise, Mumbai, covering financial years 2021-22 to 2023-24. The order, issued under GST and Compensation Cess provisions, confirms a tax demand of Rs 4.80 crore along with an equivalent penalty related to alleged inadmissible input tax credit and non-payment of tax under the reverse charge mechanism.
The company stated that the adjudicated tax demand will not impact its financial, operational, or other business activities, indicating that the liability is not expected to be material to its ongoing performance. Management emphasized that the order is appealable and confirmed it is in the process of contesting the matter at a higher appellate level, signaling an intention to actively challenge the tax authority’s position while reassuring stakeholders about business continuity.
More about Balkrishna Industries Limited
Balkrishna Industries Limited is an Indian tire manufacturer operating in the rubber and automotive components industry, best known for its BKT-branded off-highway tires. The company serves segments such as agriculture, construction, and industrial equipment, with a significant presence in both domestic and export markets.
Average Trading Volume: 31,606
Technical Sentiment Signal: Hold
Current Market Cap: 402.6B INR
For a thorough assessment of BALKRISIND stock, go to TipRanks’ Stock Analysis page.