Hero MotoCorp Faces Major Tax Notice From Delhi GST Authorities
Monday, 19 August 2024, 03:52
Hero MotoCorp's Tax Notice Analysis
Hero MotoCorp has recently come under scrutiny after receiving a substantial Rs 17 crore tax notice from Delhi GST authorities. This tax notice, dated August 17, 2024, deals primarily with the disallowance of input tax credit for the fiscal year 2019-20.
Breakdown of Tax Demand
- Tax Demand: Rs 9,38,66,513
- Interest: Rs 7,32,15,880
- Penalty: Rs 93,86,651
Hero MotoCorp plans to take appropriate steps including filing an appeal, asserting that based on its internal assessments, the tax demand is not maintainable in law. The company's proactive approach reflects its commitment to navigating regulatory challenges.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.