Hyundai Motor India Limited (HMIL) has received a tax demand notice from the Additional Commissioner of the Central GST Department, Tamil Nadu, for Rs 13.46 crore, along with a penalty of Rs 1.34 crore and applicable interest. The order pertains to the financial years 2020-21 and 2021-22 and was issued under Section 73 of the Central Goods and Services Tax (GST) Act, 2017, as well as the Tamil Nadu GST Act, 2017, Integrated GST Act, and GST Compensation Cess Act.
The company received the official order on February 28, 2025. However, Hyundai Motor India has stated that it will be filing an appeal against the demand before the appellate authorities within the prescribed timelines. The company also assured stakeholders that the order will not impact its financial, operational, or other activities.
The tax demand follows increased scrutiny by tax authorities on large corporations regarding GST compliance. Hyundai Motor India, one of the leading automobile manufacturers in the country, remains committed to addressing the matter through legal channels.
Disclaimer: The information provided is for informational purposes only and should not be considered financial or legal advice. Investors and stakeholders are advised to conduct their own due diligence or consult relevant professionals before making any decisions based on this report.
