Munjal Auto gets tax demand notice of Rs 6.7 cr from Haryana GST authority | Company News
Munjal Auto Industries intends to appeal against the notice within the required timeframe. | Representational Photo
Munjal Auto Industries Limited on Tuesday (September 3) received a demand notice from the Haryana GST authority. The notice, with a total demand amounting to Rs 6.76 crore, concerns the period from April 2019 to March 2020, the company said in an exchange filing on Tuesday.
Despite the substantial demand, Munjal Auto Industries has stated that it expects no impact on its operational activities. However, it also added that the exact monetary impact cannot yet be determined.
Munjal Auto to contest tax notice
The company intends to appeal against the notice within the required timeframe and is preparing to defend its case strongly before the appropriate authorities.
In its disclosure, Gauri Y Bapat, company secretary at Munjal Auto Industries, highlighted the company’s commitment to integrity, corporate governance, and compliance.
“We have always adhered to high standards in all aspects of our operations, including the timely payment of taxes,” Bapat said.
Munjal Auto Industries has assured stakeholders that it will provide regular updates on the matter to the stock exchanges.
Several companies hit with GST demand notices
In the past week, several companies have been issued tax demand notices by GST authorities. On Tuesday itself, Vodafone Idea, which is already struggling with debt, received GST demand notices from multiple tax offices, totalling Rs 73 crore.
Prior to this, the Shipping Corporation of India was handed a GST demand notice amounting to Rs 160 crore by the Deputy Commissioner of State Tax, Government of Maharashtra, for the financial year 2019-20.
Additionally, ICICI Prudential Life Insurance Company Ltd faced a substantial tax demand of Rs 429.05 crore from the Deputy Commissioner of State Tax in Maharashtra.
Last week, state-owned Life Insurance Corporation of India (LIC) was also issued a demand notice of approximately Rs 605.58 crore due to short payment of GST for the financial year 2019-20.
First Published: Sep 03 2024 | 1:28 PM IST
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