Quick Summary
Apollo Tyres Ltd disclosed that it has been served with a tax demand and penalty amounting to Rs 2.06 crore by the GST authority in Tamil Nadu. The issue mainly revolves around the companys utilization of ITC and other related matters. According to a regulatory filing by Apollo Tyres, the Deputy
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FAQ :
The total amount of the GST demand and penalty against Apollo Tyres is Rs 2.06 crore.
The Deputy Commissioner in Tamil Nadu, under the GST Act, issued the order.
The demand is mainly related to Apollo Tyres' utilisation of Input Tax Credit (ITC) and other related matters.
No, Apollo Tyres intends to contest the decision and will file an appeal before the appellate authority.
Apollo Tyres has stated that this issue is not expected to have any significant impact on its financial standing, operational activities, or other aspects of its business.
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