Hero MotoCorp Gets INR 17 Cr Tax Demand Notice

SUMMARY

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.

No results were found for "".
  • «
  • 1
  • »
modal lock

Continue Reading With A Free Inc42 Account

Get the most out of your Inc42 experience by creating a free account. Enjoy personalized recommendations, ad-lite browsing, and access to our exclusive newsletters.