Auto giant Hero MotoCorp has received a demand notice of INR 17.64 Cr from Delhi GST authorities due to disallowed input tax credit for FY 2019-20
Hero MotoCorp clarified in the filing that the input tax credit disallowed was rightfully claimed by it as per the provisions of the GST law
The company also plans to take steps including filing of an appeal
Auto giant Hero MotoCorp has received a demand notice of INR 17.64 Cr from Delhi GST authorities due to disallowed input tax credit for FY 2019-20.
In a regulatory filing, the company said it received the order on Saturday (August 17), which demands a GST of INR 9,38,66,513 ( INR 9.4 Cr), which will be marked up with an interest charge of INR 7.3 Cr, and a penalty of INR 93.86 Lakh, bringing the total up to INR 17.64 Cr.