JTEKT India Limited has received an Assessment Order from the Income Tax Authority for FY 2022-23, as disclosed in a regulatory filing under Regulation 30 of SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015.

Assessment Order Details

The company received the Assessment Order on March 21, 2026, from the Deputy Commissioner of Income Tax, Circle -13(1), New Delhi. The order pertains to the assessment for FY 2022-23 and addresses matters related to the company's subsidiary merger.

Subsidiary Merger Context

The Assessment Order relates to JTEKT Fuji Kiko Automotive India Limited (JFIN), a subsidiary of JTEKT India Limited. JFIN merged with its holding company JTEKT India Limited effective April 1, 2022, following the National Company Law Tribunal's order dated December 12, 2023.

During the assessment proceedings for FY 2022-23, the Income Tax Authority documented that JFIN had already merged with JTEKT India Limited as of the appointed date of April 1, 2022. Consequently, JFIN's income has been subsumed and considered within JTEKT India's income for the assessment period.

No Financial Impact

The company has explicitly stated that there is no impact on its financial, operational, or other activities due to this Assessment Order. The tax department's documentation confirms that no separate addition or assessment survives in the case of JFIN, as its income has already been consolidated with the parent company's assessment.

Regulatory Compliance

JTEKT India Limited has fulfilled its disclosure obligations by informing the stock exchanges about this development. The company filed the requisite information as per Schedule III under Regulation 30 of the Listing Regulations, ensuring transparency with stakeholders and regulatory authorities.

JTEKT India Limited has received a show cause notice from the GST authorities demanding interest payment of ₹2,00,33,663. The company disclosed this development to the stock exchanges under Regulation 30 of SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015 on 19th March, 2026.

Notice Details and Authority

The show cause notice was issued by the Office of the Commissioner of CGST Audit-Gurugram, located at Plot No. 24, Mudit Square, Sector 32, Gurugram-122002, Haryana. The notice was received by the company on 18th March, 2026.

Nature of Violation and Period Covered

The GST department has demanded interest at the applicable rate on debit notes issued by JTEKT India during a four-year period spanning from FY 2020-21 to FY 2023-24. The demand has been raised under Section 74 of the CGST Act, 2017, which deals with determination of tax not paid or short paid or erroneously refunded or input tax credit wrongly availed or utilized.

Company's Response and Financial Impact

JTEKT India has stated that there is no impact on the company's financials, operations, or other activities as it is currently in the process of filing a reply against the show cause notice. The company's position suggests it intends to contest the demand through proper legal channels.

Regulatory Compliance

The disclosure was signed by Saurabh Agrawal, Company Secretary of JTEKT India Limited, and submitted to both BSE Limited and National Stock Exchange of India Ltd. This communication ensures compliance with listing regulations that require companies to inform investors about material developments that could affect their investment decisions.