Kirloskar Oil Engines Faces Tax Demand from Pune Deputy Commissioner Over ITC Mismatch
Kirloskar Oil Engines Limited has received a Show Cause Notice concerning a tax demand related to Input Tax Credit (ITC) mismatch for the Financial Year (FY) 2022-23. The order was issued by the Deputy Commissioner of State Tax in Pune, Maharashtra, and was received by the company on June 1, 2026.The notice centers on the alleged ITC Mismatch for the financial year 2022-23, leading the Pune authority to impose a demand for tax, interest, and penalty.
The total financial liability detailed in the order includes the following components:
| Component | Amount Demanded |
|---|---|
| Tax | Rs. 3,18,52,849/- |
| Interest | Rs. 2,31,38,259/- |
| Penalty | Rs. 31,85,286/- |
Kirloskar Oil Engines Limited stated that the company does not foresee any material impact on its financial, operational, or other activities. The company affirmed that it is currently in the process of filing a necessary reply before the appropriate authority within the prescribed timelines.
KIRLOSENG Stock Price Movement
Shares of Kirloskar Oil Engines Limited today slipped by 1.95% to close at ₹1918.5. Despite the pullback, the stock remains close to its 52-week high of ₹1990.8, finishing on a total volume of 591,047 shares.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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