Escorts Kubota Limited announced that the Assistant Commissioner of GST, Faridabad, has sanctioned a refund of ₹3.70 Crores. This refund pertains to the Input Tax Credit (ITC) accumulated due to the inverted duty structure, against the company's submission contesting allegations related to the rejection of a refund of ₹7.48 Crore.
The initial claim was filed under the Inverted Duty Structure of the Central Goods and Services Tax Act, 2017. The company intends to file an appeal against the rejection of the remaining refund amount.
This disclosure complies with SEBI Master Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155, dated November 11, 2024, specifically for sub-para 8 of Para B of Schedule III of the SEBI Listing Regulations.
The update follows an earlier intimation on July 17, 2025, regarding the receipt of a Show Cause Notice ('SCN') proposing the rejection of the ₹7.48 Crore refund.
The event occurred on August 07, 2025, at 05:03 P.M. (IST).
| Particulars | Amount (₹ Crore) |
|---|---|
| Refund Claimed | 7.48 |
| Refund Sanctioned | 3.70 |
| Remaining Refund Amount (Rejected) | 3.78 |
The company intends to file an appeal against the rejection of the remaining refund amount.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
