JK Tyre & Industries Ltd. has disclosed receiving a GST demand order from tax authorities, totaling ₹1.39 crore including tax and penalty for alleged Input Tax Credit discrepancies during Financial Year 2019-20. The company has informed stock exchanges about this development under regulatory disclosure requirements.

GST Demand Order Details

The Assistant Commissioner, Division Okhla of Central Goods & Services Tax, Delhi South Commissionerate, issued Order-in-Original No. 1556/PM/AC/2025-26 dated 30.03.2026 under Section 74 of the Central Goods and Services Tax Act, 2017. The order was received by the company on 30.03.2026.

Allegations and Non-Compliance Issues

The order alleges wrongful availment of Input Tax Credit (ITC) by JK Tyre & Industries during FY 2019-20. The primary reasons cited by the tax authorities include:

• Alleged discrepancies in Input Service Distributor (ISD) credit
• Mismatches in ITC claimed across different financial years
• Discrepancies as reported in GSTR-9 and GSTR-9C returns

The demand order confirms a tax liability of ₹69,36,972 along with an equivalent penalty of ₹69,36,972 and applicable interest charges.

Company's Response and Financial Impact

JK Tyre & Industries has expressed confidence in its position regarding the GST demand. The company stated it believes it has a strong case to appeal before higher authorities. Accordingly, the company plans to file an appeal before the appropriate appellate authority.

Regarding financial implications, the company has indicated there is no expected financial impact arising from this order, citing its strong case for appeal. This suggests the company is confident about successfully challenging the demand through the appellate process.

Regulatory Compliance

The disclosure was made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company secretary, Kamal Kumar Manik, signed the disclosure document dated April 1, 2026, ensuring compliance with stock exchange notification requirements for material events.

JK Tyre & Industries Ltd. has published newspaper advertisements regarding its postal ballot notice for the appointment of Dr. Nand Gopal Khaitan as an Independent Director. The company issued a formal communication to stock exchanges on 24th March 2026, confirming the publication of advertisements in Business Standard (English) and Pratapkal (Hindi) newspapers.

Regulatory Compliance and Advertisement Publication

The company has fulfilled its regulatory obligations by publishing the postal ballot notice in newspapers as required under the Companies Act, 2013. The advertisements were published on 24th March 2026, coinciding with the commencement of the e-voting period.

Company Secretary Kamal Kumar Manik signed the communication to BSE and NSE, confirming the completion of newspaper advertisement requirements in connection with the postal ballot notice dated 5th March 2026.

Postal Ballot Process Details

The postal ballot process is being conducted entirely through electronic voting mode for seeking shareholder approval for Dr. Khaitan's appointment as Independent Director. The voting timeline remains as previously announced:

The e-voting facility is being provided through Central Depository Services (India) Ltd. (CDSL) platform at www.evotingindia.com . Members whose email addresses are registered with the company or depositories have received the postal ballot notice electronically.

Dr. Khaitan's Proposed Appointment

The Board of Directors had previously appointed Dr. Nand Gopal Khaitan as an Additional Director on 6th February 2026, with the appointment taking effect from 9th February 2026, subject to requisite shareholder approval. The proposed resolution seeks to appoint him as an Independent Director for a term of five consecutive years.

Dr. Khaitan brings over 50 years of legal expertise and serves on boards of several listed companies including AGI Greenpac Ltd., Mangalam Cement Ltd., and HEG Ltd. As he will attain seventy five years of age in May 2026, the resolution also seeks approval for his continuation beyond seventy five years as required under SEBI Listing Regulations.

Scrutinizer Appointment and Contact Information

Ms. Preeti Grover of M/s PG & Associates, Company Secretaries, has been appointed as Scrutinizer, with Ms. Monika Jain serving as Alternate Scrutinizer for conducting the postal ballot process. Members can contact the company at investorjkyre@jkmail.com or call 011-66001112 for any queries related to the voting process.