TVS Srichakra Tax Bill Cut ₹26 Cr, FY18 Appeal Still Pending

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AuthorRiya Kapoor|Published at:
TVS Srichakra Tax Bill Cut ₹26 Cr, FY18 Appeal Still Pending
Overview

TVS Srichakra has seen its tax demand for FY 2017-18 drastically reduced from ₹29.47 crore to ₹3.11 crore. While the company states this rectification has no material impact, an appeal against the original tax order remains pending before the Commissioner of Income Tax (Appeals), making the final resolution still uncertain.

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TVS Srichakra Limited has announced a significant reduction in its tax demand for the fiscal year 2017-18, though the final resolution remains uncertain due to an ongoing appeal.

The company's tax liability for FY18 has been lowered from ₹29.47 crore to ₹3.11 crore, a reduction of ₹26.36 crore.

TVS Srichakra has stated that this rectification order has no material impact on its financial position, operations, or other activities.

The rectification order is dated May 7, 2026. It pertains to an original tax order dated March 26, 2026, which was issued on April 29, 2026.

Despite the reduced tax liability, the company continues to pursue an appeal against the original tax order before the Commissioner of Income Tax (Appeals). This pending appeal creates uncertainty regarding the final tax outcome.

TVS Srichakra Limited is a key Indian manufacturer of tires for motorcycles, scooters, three-wheelers, agricultural equipment, and industrial vehicles, operating as part of the TVS Group.

In the competitive Indian tire market, TVS Srichakra competes with major players such as MRF Ltd, CEAT Ltd, and Apollo Tyres Ltd.

The final decision from the Commissioner of Income Tax (Appeals) will determine the ultimate tax liability.

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