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Hyundai India gets tax notice from Maha

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Hyundai Motor India Ltd on Tuesday said it has received a show cause notice with demand of over Rs 5 crore, including interest, from the Maharashtra State Tax Authority for alleged excess input tax credit claim.

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In a regulatory filing, Hyundai Motor India Ltd (HMIL) said on Monday, it received a show cause notice from Maharashtra State Tax Authority alleging “excess ITC claimed” is not confirmed as per norms and in RCM (reverse charge mechanism) tax paid by the company.

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“The total demand amount mentioned in the show cause notice is Rs 2.741 crore towards tax and Rs 2.279 crore towards interest,” it added. HMIL said it would be filing a reply to the show cause notice before the adjudicating authority within the prescribed timelines.

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