Hyundai gets Rs 15 cr tax demand notice

Hyundai Motor India on Saturday said it has received a tax demand notice of Rs 15 crore from GST authorities. The automaker on February 28 received an order from Additional Commissioner, Central GST Department, Tamil Nadu, for the period FY 2020-21 and FY 2021-22 wherein a tax demand has been raised under Section 73 of Central Goods and Service Tax Act, 2017 and Tamil Nadu Goods and Services Tax Act, 2017, the company said.

The demand is for an amount of Rs 13.46 crore along with a penalty of Rs 1.34 crore and applicable Interest, Hyundai Motor India said in a regulatory filing.

"The company will be filing appeals before appellate authorities within the prescribed timelines. There is no impact on financial, operation or other activities of the company due to this order," it added.