Explore Business Standard
Eicher Motors Ltd on Tuesday said its subsidiary VE Commercial Vehicles Ltd has received a GST demand of Rs 192.36 crore, along with a penalty, in a matter related to delay in reporting credit notes for the financial year 2017-18 . In July this year VE Commercial Vehicles Ltd (VECV) received Show Cause Notice (SCN) from the Commissioner, CGST & Central Excise, Ujjain Commissionerate, Madhya Pradesh alleging contraventions of the provisions of CGST Act, 2017 pertaining to FY 2017-18 and involving GST amount of Rs 168.19 crore and equivalent amount of penalty, Eicher Motors said in a regulatory filing. After VECV had submitted a response to the SCN, the company received a demand order on December 29, 2025 confirming demand of Rs 96.18 crore in the matter as against Rs 168.19 crore mentioned earlier under the SCN and equivalent amount of penalty and applicable interest, it added. "Based on the assessment of this matter and advice of the counsel, VE Commercial Vehicles Ltd believes ..
VE Commercial Vehicles, a joint venture between the Volvo Group and Eicher Motors, announced on Thursday an investment of Rs 544 crore to set up a production facility for Volvo Group's 12-speed automated manual transmissions. The greenfield factory will be established at Vikram Udyogpuri Integrated Industrial Township, near Ujjain, Madhya Pradesh, the company said in a statement. The investment in automated manual transmission (AMT) production will cater to the needs of Eicher heavy-duty truck customers in India and the Volvo Group in India and select markets in the Asia-Oceania region, it added. As the global manufacturing hub for Volvo Group's 5 & 8 Litre (MDEP) engines since 2013, VECV's Pithampur factory has been a pioneer in making in India for the world, the company said. "The new investment to assemble and produce the Volvo Group AMT is built on the bedrock of this trust and technical capability. It marks another significant step towards our vision of becoming a leading CV .