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Apollo Tyres receives INR 2.06 Cr GST Penalty from Tamil Nadu Officials
Apollo Tyres faces INR 2.06 Cr GST penalty in Tamil Nadu over alleged irregularities in input tax credit.
Apollo Tyres has encountered a tax dispute with the Goods and Services Tax (GST) authority in Tamil Nadu. The company disclosed that it has received a tax demand and penalty of Rs 2.06 crore over alleged irregularities related to the availing of input tax credit (ITC) and other issues.
The company has a significant presence in both domestic and international markets. It has been a major player in India's automotive sector, manufacturing a broad range of tyres for passenger vehicles, commercial vehicles, and other applications.
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Tax Demand and Penalty
As per a regulation filed by Apollo Tyres, the Deputy Commissioner (CT) of Tamil Nadu has issued an order under the GST Act, demanding the payment of GST along with imposing a consequential penalty of Rs 2.06 crore. Apollo Tyres stated that it intends to challenge the order by filing an appeal before the legal authority.
CarBike360 Says
As the legal procedure unfolds, Apollo continues to focus on its business, including market expansion, product innovation, and sustainability initiative. Despite the on-going legal proceedings, the company still ensures to deliver its customer centric services.
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