Source : PTI | Eicher Motors has been served demand notices of over INR 130 crore from three different authorities over issues related to GST, according to a regulatory filing by the company. The company has received a demand order for an aggregate amount of INR 129.79 crore, including a penalty of INR 11.8 crore and applicable interest from the office of the Principal Commissioner of CGST and Central Excise, Chennai, Eicher Motors said in a regulatory filing.
The officer has disallowed certain GST credit and raised GST demand, largely on account of the difference in GST credit mismatch between the company’s GST availment and details reported by suppliers in their GST returns, it added.
Besides, the turnover difference as declared in GSTR-3B with GSTR-1 return and non-reversal of input tax credit on material returned instead of output tax liability paid by the company have also been cited as reasons.
Eicher Motors further said a demand order for INR 70.9 lakh, including a penalty of INR 3.2 lakh, has been served by the Office of Excise And Taxation Officer cum State Tax Officer, Punjab over “turnover difference as declared in GSTR-3B, GSTR-1 and GSTR-9 for FY 2017-18”.
The company also said the Office of Central Goods & Service Tax Commissionerate, Jaipur has disallowed credit notes issued for sales return from FY 2017-18 to 2021-22 and has issued a demand order for INR 49.8 lakh, including a penalty of INR 4.5 lakh and interest as applicable.
“Based on the company’s assessment, the aforesaid demands are not maintainable and the company is evaluating all options including filing an appeal against the orders,” the filing said, adding it does not envisage any relevant impact on its financials, operations or other activities.