Hero MotoCorp Receives Rs.17 Crore Tax Notice From Delhi GST Authorities
The company maintained that the demand was against the law
By: : Anjali Verma
Update: 2024-08-22 04:30 GMT
Hero MotoCorp Receives Rs.17 Crore Tax Notice From Delhi GST Authorities
The company maintained that the demand was against the law
Indian multinational motorcycle and scooter manufacturer Hero MotoCorp has said that it received a demand notice of over Rs.17 crore from the Delhi Goods and Services Authority (GST).
The 17 August 2024 order was for disallowance of Input Tax Credit (ITC) for the Financial Year 2019-20 from the GST office, Government of National Capital Territory of Delhi.
While the tax demand was Rs.9,38,66,513, interest of Rs.7,32,15,880, and penalty of Rs.93,86,651.
The two-wheeler major stated that the ITC was claimed by the company as per the provisions of the GST law. However, it was disallowed due to the supplier's non-compliance, which was not attributable to the company.
Thus, the company would take appropriate steps, including filing an appeal.