Eicher Motors Limited has informed the Exchange about General Updates
EICHERMOT · price
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Awaiting price reaction for this filing.
Eicher Motors' subsidiary VE Commercial Vehicles Limited (VECV) received a GST demand order of Rs. 96.18 crores (plus equivalent penalty and applicable interest) from the CGST & Central Excise Commissionerate in Ujjain, Madhya Pradesh on 29th December 2025. This is the outcome of an earlier show cause notice from July 2025, which had alleged a higher demand of Rs. 168.19 crores related to delays in reporting credit notes for FY 2017-18. The final demand was reduced by about 43% after adjudication. VECV plans to appeal the order, stating it believes the order has no merit based on legal advice.
While the company states there is no financial, operational, or other impact, the Rs. 96.18 crore demand (plus penalty and interest) is a sizable tax liability for the subsidiary. Shareholders should watch for the appeal outcome, as an adverse ruling could become a financial burden, though the reduction from the original notice is a positive development.