Minda Industries Vietnam Company Limited, a subsidiary of Uno Minda Limited, has received an order from the Phu Tho Province Tax Department in Vietnam. The order imposes administrative penalties totaling ₹0.97 Crores for disallowances during the audit period of FY 2020-21 till 2025-26. Additional interest and penalty charges amount to ₹0.19 Crores each. Uno Minda stated that the subsidiary is reviewing the order and will take appropriate measures, noting no material impact on the company’s financial or operational activities.
Vietnam Subsidiary Receives Tax Order
Uno Minda Limited announced that its subsidiary, Minda Industries Vietnam Company Limited, has received an order from the Phu Tho Province Tax Department in Vietnam. This order pertains to administrative penalties arising from disallowances identified during an audit covering the period from FY 2020-21 to FY 2025-26.
Financial Implications
The administrative penalties imposed by the Vietnamese Tax Authority are as follows:
- Tax/duty: ₹0.97 Crores
- Interest: ₹0.19 Crores
- Penalty: ₹0.19 Crores
The total amount involved in these penalties is approximately ₹1.35 Crores (sum of Tax/duty, Interest, and Penalty). The subsidiary received this order on August 12, 2026.
Company Response
Uno Minda Limited has stated that the company and its subsidiary are currently reviewing the order. They anticipate taking appropriate measures in response. The company further clarified that they do not foresee any material impact on the overall financial or operational activities of the listed entity or its subsidiary as a result of this order.
Source: BSE
