JK Tyre Receives GST Show Cause Notice for ₹94.86 Cr

JK Tyre & Industries Ltd has received a Show Cause Notice (SCN) from the Deputy Commissioner (ST) III, GST, Large Taxpayers Unit, Chennai, dated September 29, 2026. The notice pertains to assessment proceedings for FY 2022-23 and alleges incorrect classification of supplies, excess Input Tax Credit (ITC) availment, mismatches in GSTR 2A vs 3B, ineligible ITC, and certain transactions treated as deemed supplies. A demand of ₹94.86 crore has been raised, comprising ₹55.12 crore tax, ₹34.23 crore interest, and ₹5.51 crore penalty. The company believes it has defensible positions against the observations and is reviewing the SCN and its implications, with a response to be submitted within due time. The actual outcome will be known after adjudication.