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Eicher Motors Limited ( (IN:EICHERMOT) ) has issued an announcement.
Eicher Motors Limited announced that its subsidiary, VE Commercial Vehicles Limited, has received a demand cum show cause notice from the Commissioner of CGST & Central Excise in Ujjain, Madhya Pradesh. The notice pertains to alleged contraventions of the CGST Act, 2017, for the fiscal year 2017-18, demanding GST payment of Rs. 168.19 Crores with penalties and interest. The company, however, believes the demand is not maintainable and is assessing the situation to respond within the stipulated time. Eicher Motors does not foresee any significant impact on its financials or operations due to this notice.
More about Eicher Motors Limited
Eicher Motors Limited operates in the automotive industry, primarily focusing on the manufacturing of commercial vehicles and motorcycles. The company is known for its subsidiary, VE Commercial Vehicles Limited, which plays a significant role in the commercial vehicle segment.
Average Trading Volume: 18,093
Current Market Cap: 1556B INR
For a thorough assessment of EICHERMOT stock, go to TipRanks’ Stock Analysis page.