Apollo Tyres gets Rs 2.06 crore tax demand from Tamil Nadu officials
The Deputy Commissioner (CT), Tamil Nadu has passed an order under GST Act demanding GST and levying consequential penalty of Rs 2.06 crore, Apollo Tyres said in a regulatory filing
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"The company will file appeal before appellate authority in due course," Apollo Tyres said, adding that there is no material impact on its financial, operation or other activities due to the issue.
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Apollo Tyres Ltd on Tuesday said it has received tax demand and penalty of Rs 2.06 crore from GST authority in Tamil Nadu over availing of input tax credit and other issues.
The Deputy Commissioner (CT), Tamil Nadu has passed an order under GST Act demanding GST and levying consequential penalty of Rs 2.06 crore, Apollo Tyres said in a regulatory filing.
The matter is a dispute regarding availment of ITC and other issues, it added.
"The company will file appeal before appellate authority in due course," Apollo Tyres said, adding that there is no material impact on its financial, operation or other activities due to the issue.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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First Published: Apr 16 2024 | 4:47 PM IST