Legal27 Mar 2026, 03:16 pm
Escorts Kubota Ltd: Tax Demand of Rs. 46.79 Crores Dropped by State Tax Officer, Chennai
AI Summary
Escorts Kubota Ltd has announced that the State Tax Officer, Mandaveli Assessment Circle, Chennai, Tamil Nadu, has dropped the tax demand of Rs. 46.79 Crores for the Financial Year 2019-20. The tax demand was dropped vide an order dated March 26, 2026, following the Company's objections to the wrong classification of agricultural tractors as road tractors and the wrong computation of the alleged tax on the total GST turnover instead of only turnover of tractor. This decision by the State Tax Officer, Chennai, follows earlier intimations by the Company dated May 08, 2025, December 30, 2025, and January 30, 2026, regarding the same issue.
Key Highlights
- Escorts Kubota Ltd has announced the dropping of a tax demand of Rs. 46.79 Crores by the State Tax Officer, Chennai.
- The tax demand was dropped following the Company's objections to the wrong classification of agricultural tractors and the wrong computation of the alleged tax.
- The decision by the State Tax Officer, Chennai, follows earlier intimations by the Company regarding the same issue.