Latest News | GST Demand Order for Eicher Motors Reduced to Rs 27 Cr on Appeal

New Delhi, Aug 2 (PTI) Eicher Motors on Friday said a GST demand order by tax authority in Tamil Nadu has been reduced to Rs 26.97 crore from an original sum of Rs 129.79 crore upon appeal.

The company had received the original demand from the Additional Commissioner, Chennai North Commissionerate, Chennai, Tamil Nadu on December 30, 2023 for aggregate amount of Rs 129.79 crore, including tax demand of Rs 117.99 crore and penalty of Rs 11.79 crore.

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"As a result of the appeal filed by the company against the above GST demand order, the demand order is now revised from Rs 129.79 crore to an aggregate amount of Rs 26.97 crore, which include tax demand of Rs 24.52 crore and penalty of Rs 2.45 crore," Eicher Motors said in a regulatory filing.

The matter pertains to non-reversal of input tax credit on material returned instead of output tax liability paid by the company for 2017-18.

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"Based on the company's assessment, the aforesaid revised demand is not maintainable and the company is evaluating all options including filing an appeal against the order," Eicher Motors said, adding it does not envisage any relevant impact on its financials, operations or other activities.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)