Hyundai Motor India Gets ₹5.17 Billion GST Demand Notice

Hyundai Motor India Ltd. on Tuesday said it has received a demand notice from the Office of the Commissioner of GST & Central Excise for ₹5.17 billion, including penalty.

The primary demand is for ₹2.58 billion, with an equal amount levied as penalty, the company said in a filing.

The matter pertains to alleged short payment of GST compensation cess on certain sports utility vehicles for the period from September 2017 to March 2020.

Hyundai said it received the order on Monday evening and is exploring options to appeal the matter.