Shares of Eicher Motors Ltd fell 1% after touching a day’s excessive of Rs 5,683.50 on eleventh July, following the corporate’s disclosure on tenth July that its materials subsidiary, VE Business Automobiles Restricted (VECV), had obtained a demand-cum-show trigger discover from the Workplace of the Commissioner, CGST & Central Excise, Ujjain Commissionerate, Madhya Pradesh.
The discover, dated third July, 2025, pertains to alleged GST violations by VE Business Automobiles for the monetary yr 2017–18.
Eicher Motors, in a regulatory submitting, mentioned its subsidiary obtained the demand-cum-show trigger discover underneath the CGST, MP GST, and IGST Acts from the CGST & Central Excise workplace in Ujjain, Madhya Pradesh.
As per the discover, VECV should clarify inside 30 days why GST of Rs 168.19 crore, together with an identical penalty and curiosity, shouldn’t be recovered underneath Part 74(1) of the CGST Act.
The corporate believes the demand is just not legitimate and is evaluating the matter. It plans to reply throughout the deadline and doesn’t count on any main impression on its financials or operations.
At 1:19 PM, the shares of Eicher Motors had been buying and selling 0.83% decrease at Rs 5,605 on NSE.
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