Apollo Tyres gets INR 2.06 cr tax demand

admin admin | 04-17 16:20

"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.
New Delhi: Apollo Tyres Ltd on Tuesday said it has received tax demand and penalty of INR 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 INR 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.

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