Hyundai Motor India announced on Saturday that it has received a tax demand notice amounting to Rs 15 crore from the Goods and Services Tax (GST) authorities in Tamil Nadu. The notice includes tax dues, penalties, and applicable interest.
The automaker disclosed in a regulatory filing that the notice was issued on February 28 by the Additional Commissioner of the Central GST Department, Tamil Nadu. The order pertains to the financial years 2020-21 and 2021-22.
Under Section 73 of the Central Goods and Services Tax Act, 2017, and the Tamil Nadu Goods and Services Tax Act, 2017, Hyundai Motor India faces a tax demand of Rs 13.46 crore. Additionally, the notice imposes a penalty of Rs 1.34 crore, along with applicable interest.
Hyundai Motor India has clarified that it intends to challenge this order by filing appeals before the relevant appellate authorities within the timelines provided by law. The company emphasized that this tax demand would not have any material impact on its financial position, operations, or any other business activities.
The automaker reassured stakeholders that normal operations remain unaffected by this development.
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