Minda Corporation Faces ₹17.26 Crore Tax Demand from Central GST Authorities

Minda Corporation Ltd, one of India’s leading automotive parts manufacturers, has disclosed that it received a tax demand from the Office of the Joint Commissioner, CGST Division. The total demand, including interest and penalty, stands at ₹17.26 crore (₹172.6 million).

The demand pertains to certain discrepancies identified under the Central Goods and Services Tax (CGST) Act. The company stated that it is reviewing the details of the order and intends to take suitable action in consultation with its legal and tax advisors.

Key Highlights:

• Demand value: ₹17.26 crore (including interest and penalty).
• Issuing authority: Office of the Joint Commissioner, Central GST.
• Nature: Demand under CGST proceedings.
• Company response: Minda Corporation reviewing order and exploring legal remedies.
• Impact: No immediate financial impact expected pending appeal process.

The company reaffirmed its commitment to compliance with tax regulations and stated it would keep shareholders informed of any significant developments.

Sources: Company filing on NSE and BSE releases.