Uno Minda Limited has issued a corrigendum regarding a penalty demand from the GST/Central Excise authorities in Salem, Tamil Nadu. The company clarified that the original tax amount demanded in the order has already been fully paid prior to the dispute inception. Consequently, the adjudicated order only pertains to interest and penalties totaling approximately Rs. 5.07 Crore across two distinct periods, which the company intends to contest.
Clarification on Prior Tax Payment
Uno Minda Limited has released a corrigendum to its earlier intimation concerning an order received from the Office of the Commissioner of Goods & Service Tax and Central Excise, Salem, Tamil Nadu. The company wishes to emphasize that the core tax amount involved in the case has already been paid by the Company before the dispute arose. The subsequent order, therefore, only adjudicated on the interest and penalty components.
Adjudicated Demand Details
The authority duly appropriated the primary tax demand of Rs. 126,19,24,144/-. The remaining charges imposed are for interest and penalties, detailed as follows based on Sub-Para 20 of Para A of Part A of Schedule III:
Period 1: November 2017 to March 2020
- Interest: As applicable
- Penalty: Rs. 4,23,79,859/-
The company confirmed that for this period, it has utilized the amnesty scheme, meaning there is no remaining exposure for this specific penalty amount on the company’s books.
Period 2: April 2020 to October 2023
- Interest: As applicable
- Penalty: Rs. 8,38,12,557/-
Order Receipt and Company Stance
The official order regarding this HSN misclassification was received by the company on March 11, 2026, around 09:00 A.M. (IST). In response to this finding for the second period, the company intends to contest the said order based on the merits of the case.
Financial Impact Assessment
Regarding the quantification of impact, the company stated that it does not foresee any material impact on its financial, operational, or other activities from the imposed penalty and interest for the period where the case will be contested.
Source: BSE
