Hero MotoCorp has received a demand notice of over ₹17 crore from Delhi GST authorities.
The company has received an order for disallowance of input tax credit for FY 2019-20 from the Office of the GST Officer, Government of NCT of Delhi, the two-wheeler major said in a regulatory filing.
The company said the tax demand is for ₹9,38,66,513, interest ₹7,32,15,880 and penalty ₹93,86,651 as per the notice.
“The input tax credit disallowed by the office of the GST Officer, New Delhi, was rightfully claimed by the company as per the provisions of the GST law but disallowed on account of the supplier’s non-compliance, which is not attributable to the company,” Hero MotoCorp said.
“Accordingly, the company shall take appropriate steps, including filing an appeal,” it added.