Escorts Kubota Limited has received a rectification order, reducing the tax demand to nil, after the appropriation of tax already deposited by the Company, according to an exchange filing.
The original order was issued by the Assistant Commissioner, Guwahati, Assam issuing a tax demand of ₹ 16,48,170.
However, the amount of interest of ₹ 16,48,170 and penalty of ₹ 1,64,817 on the issue of availment of certain ineligible Input tax credit remain unchanged.
The Company is likely to file an appeal against said order.
The disclosure was made under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.
