Latest news with #HyundaiMotorIndiaLtd
New Indian Express
2 days ago
- Automotive
- New Indian Express
Hyundai slapped with Rs 517.34 crore tax demand and penalty from GST authority
Hyundai Motor India Ltd (HMIL) has received a demand of Rs 517.34 crore from tax authorities, along with a penalty, for alleged short payment of GST compensation cess on certain SUV models. 'The company has received an Order from Commissioner (Appeals), CGST Dept, Tamil Nadu, confirming GST Compensation Cess demand of Rs. 258.67 Crs along with Penalty of Rs. 258.67 Crs on the allegation of short payment of GST Compensation Cess on Certain SUV Models for the period September 2017 - March 2020,' said Hyundai Motor in a statement. The carmaker said that there is no impact on financial, operational or other activities of the company due to this. Hyundai is reviewing the order and will exercise its right to file an appeal.
The Hindu
2 days ago
- Automotive
- The Hindu
Hyundai Motor India gets ₹517.34 crore tax, penalty demand from GST authority
Hyundai Motor India Ltd on Tuesday (July 22, 2025) said it has received a demand of ₹517.34 crore from tax authorities, along with penalty, for alleged short payment of GST compensation cess on its certain SUV models. The company has received an order from Commissioner (Appeals), CGST Dept, Tamil Nadu, confirming GST compensation cess demand of ₹258.67 crore, along with penalty of ₹258.67 crore, on the allegation of short payment of GST compensation cess on certain SUV models for the period September 2017 - March 2020, Hyundai Motor India Ltd said in a regulatory filing. Reacting to the demand, a company spokesperson said, "HMIL is of the view that the amendment and the clarifications given by the Central Board of Indirect Tax and Customs (CBIC) to resolve the issue faced by the industry on this matter are in favour of the company. We are in the process of reviewing the order and will exercise the right to seek a legal remedy through an appropriate forum." The company asserted that there is no impact on its financial, operation or other activities due to the order and is reviewing the order and will exercise the right to file appeal.
NDTV
2 days ago
- Automotive
- NDTV
Hyundai Motor India Receives Rs 517.34 Cr Tax, Penalty From GST Authority
New Delhi: Hyundai Motor India Ltd on Tuesday said it has received a demand of Rs 517.34 crore from tax authorities, along with penalty, for alleged short payment of GST compensation cess on its certain SUV models. Also Read - SAVWIPL Recalls Kushaq, Slavia, Virtus, And Others Over Seatbelt-Related Issues The company has received an order from Commissioner (Appeals), CGST Dept, Tamil Nadu, confirming GST compensation cess demand of Rs 258.67 crore, along with penalty of Rs 258.67 crore, on the allegation of short payment of GST compensation cess on certain SUV models for the period September 2017 - March 2020, Hyundai Motor India Ltd said in a regulatory filing. Also Read - Maruti Suzuki E Vitara Could Debut On Sept 3: Design, Specs, Range, Price Reacting to the demand, a company spokesperson said, "HMIL is of the view that the amendment and the clarifications given by the Central Board of Indirect Tax and Customs (CBIC) to resolve the issue faced by the industry on this matter are in favour of the company. We are in the process of reviewing the order and will exercise the right to seek a legal remedy through an appropriate forum." The company asserted that there is no impact on its financial, operational or other activities due to the order and is reviewing the order and will exercise the right to file an appeal. Watch: Kia Carens Clavis EV Range Test | Practical Or Not?
Time of India
2 days ago
- Automotive
- Time of India
Hyundai India receives ₹517 crore GST demand; to appeal order
Hyundai Motor India Ltd (HMIL) has received a tax demand and penalty order totalling ₹517.34 crore from the Commissioner (Appeals), Central GST Department , Tamil Nadu, the company said in a stock exchange filing on Tuesday. The order pertains to alleged short payment of GST compensation cess on certain SUV models sold between September 2017 and March 2020. 'The company has received an order from Commissioner (Appeals), CGST Department, Tamil Nadu, confirming GST Compensation Cess demand of ₹258.67 crore along with a penalty of ₹258.67 crore on the allegation of short payment of GST Compensation Cess on certain SUV models,' the filing stated. The order was received by Hyundai via email on July 21, 2025 in the evening. The company said the order does not have any financial, operational or other impact at this stage. HMIL is currently reviewing the matter and plans to file an appeal. The company reaffirmed its commitment to legal compliance and expressed confidence in its legal position.
News18
2 days ago
- Automotive
- News18
Hyundai Motor India gets Rs 517.34 cr tax, penalty demand from GST authority
Last Updated: New Delhi, Jul 22 (PTI) Hyundai Motor India Ltd on Tuesday said it has received a demand of Rs 517.34 crore from tax authorities, along with penalty, for alleged short payment of GST compensation cess on its certain SUV models. The company has received an order from Commissioner (Appeals), CGST Dept, Tamil Nadu, confirming GST compensation cess demand of Rs 258.67 crore, along with penalty of Rs 258.67 crore, on the allegation of short payment of GST compensation cess on certain SUV models for the period September 2017 – March 2020, Hyundai Motor India Ltd said in a regulatory filing. Reacting to the demand, a company spokesperson said, 'HMIL is of the view that the amendment and the clarifications given by the Central Board of Indirect Tax and Customs (CBIC) to resolve the issue faced by the industry on this matter are in favour of the company. We are in the process of reviewing the order and will exercise the right to seek a legal remedy through an appropriate forum." The company asserted that there is no impact on its financial, operation or other activities due to the order and is reviewing the order and will exercise the right to file appeal. PTI RKL TRB Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
