Apollo Tyres Faces Rs 2.06 Crore Tax Demand in Tamil Nadu

Apr 16, 2024 15:24

Apollo Tyres has received a Rs 2.06 crore tax demand from GST authorities in Tamil Nadu for input tax credit and other issues. The company plans to appeal the decision.

Illustration: Dominic Xavier/Rediff.com

New Delhi, Apr 16 (PTI) 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.

MORE NEWS

Zinc Futures Fall on Weak Demand | Dec 16

Zinc futures prices fell on Dec 16 due to reduced exposure by speculators and weak...

India AI Strength: Pradhan on Diversity &...

India's diversity is a strength in the AI era, says Minister Pradhan. Solutions built...

ITC Hotels to Expand Storii Brand at Wildlife...

ITC Hotels plans to open four Storii by ITC Hotels properties at wildlife destinations...

Lodha & MRG Group: Gurugram Projects, Rs 3600...

Lodha Developers partners with MRG Group to develop two projects in Gurugram with Rs...

AI Regulation: Govt Favors Existing Laws

Government prefers using existing laws like DPDP Act for AI regulation, focusing on...

Crude Oil Futures Decline on Weak Spot Demand

Crude oil futures fell on MCX due to weak spot demand. January delivery down Rs 2....

Bullion Rates Today: Gold & Silver Prices

Check today's opening bullion rates in Chennai. Gold (22K, 18K) and silver prices per...

B Sairam Appointed Coal India CMD

B Sairam assumes charge as Chairman and Managing Director of Coal India Limited (CIL)....

Google AI Push: Funding for Health & Agriculture

Google commits millions to India AI Centers for health, agriculture, education, and...

Indian Investors Diversifying into Global Markets

Indian investors are increasingly diversifying into US equities, ETFs, private markets,...

Apollo Tyres Faces Rs 2.06 Crore Tax Demand in Tamil Nadu

You May Like To Read

MORE NEWS