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Hero Motocorp Limited ( (IN:HEROMOTOCO) ) has issued an update.
Hero MotoCorp Limited has received a tax demand order from the Deputy Commissioner of State Tax in Lucknow, Uttar Pradesh, alleging discrepancies in the company’s Input Tax Credit claims for the financial year 2021-22. The order demands a payment of approximately Rs. 1.1 crore in taxes and penalties. Hero MotoCorp believes the tax demand is not legally sustainable and plans to appeal the decision. The company asserts that this issue will not materially impact its financials or operations.
More about Hero Motocorp Limited
Hero MotoCorp Limited is a major player in the automotive industry, primarily known for manufacturing motorcycles and scooters. The company is headquartered in New Delhi, India, and focuses on providing two-wheeler vehicles to a global market.
Average Trading Volume: 23,841
Technical Sentiment Signal: Buy
Current Market Cap: 1270.8B INR
For detailed information about HEROMOTOCO stock, go to TipRanks’ Stock Analysis page.