Hyundai Motor India Limited has informed the Exchange about Action(s) taken or orders passed
HYUNDAI · price
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Hyundai Motor India has received an order from the Commissioner (Appeals) of CGST, Tamil Nadu confirming a GST Compensation Cess demand of Rs. 258.67 Crores along with an equal penalty of Rs. 258.67 Crores, taking the total potential liability to about Rs. 517.34 Crores. The demand relates to alleged short payment of GST Compensation Cess on certain SUV models for the period September 2017 to March 2020. The company has stated that there is no immediate financial, operational, or other impact from this order. The company is reviewing the order and intends to exercise its right to file a further appeal.
This is a substantial tax demand at the appellate stage, but with no immediate cash outflow or operational disruption. Shareholders should watch the appeal outcome closely, as a final unfavourable ruling could meaningfully impact the company's financials given the scale of the demand relative to its earnings.