Eicher Motors Arm Gets ₹1.68 Billion Demand Notice, Calls It Not Maintainable

Eicher Motors Ltd.'s subsidiary VE Commercial Vehicles Ltd. has received a demand-cum-show cause notice for ₹1.68 billion in goods and services tax and an equal amount in penalty, the company said in an exchange filing Thursday.

The notice was issued on July 3 by the CGST & Central Excise Commissionerate, Ujjain, under provisions of the CGST Act, IGST Act, and Madhya Pradesh GST Act. Authorities have sought a response within 30 days.

The company said the demand is not maintainable and it will file a reply after evaluating the matter. It does not expect any material impact on its financials or operations.