Tata Motors Ltd on Wednesday said it has received a tax demand of nearly Rs 25 crore, including penalty and interest, from authorities on account of short payment of tax and excess availment of credit.
An order was passed on April 30, 2024, by the Sales Tax Officer Class II / AVTO Ward 204, Zone 11, Delhi and it was received on May 1, 2024, by the company confirming demand on account of short payment of tax and excess availment of credit under section 73 of the CGST/ SGST Act, 2017, Tata Motors Ltd said in a regulatory filing.
The tax amount is Rs 14,25,68,173 with interest of Rs 9,14,15,704 and penalty of Rs 1,42,56,815.
“Company is reviewing the order and will exercise the right to file appeal,” Tata Motors said, adding that there is no material impact on financial and operational activities of the company on account of this order.
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