Minda Corporation’s material subsidiary, Minda Instruments Limited (MIL), has received an order confirming a GST demand of ₹17.26 Crores, including a penalty of ₹1.80 Crores. The demand relates to issues regarding the classification of goods for fiscal year 2021-22. The company intends to appeal the order and does not anticipate a material financial impact.
GST Demand on Minda Instruments Limited
Minda Instruments Limited (“MIL”), a material subsidiary of Minda Corporation, has been issued an order from the Office of the Deputy Commissioner of State Tax, Pune North East, Maharashtra, regarding a GST demand. The order, received on December 31, 2025, pertains to the fiscal year 2021-22.
Details of the Order
The order confirms a total GST demand of ₹17.26 Crores, which includes a penalty of ₹1.80 Crores. The demand stems from issues related to the classification of goods and other relevant matters under the CGST Act, 2017, and the corresponding IGST Act provisions.
Company’s Response
Minda Corporation intends to appeal the order before the Appellate Authority within the prescribed time limit under the GST Law. The company is optimistic about a favorable outcome and currently does not anticipate any significant financial impact as a result of the order.
Violation Details
The core issue revolves around classification and alleged excess ITC (Input Tax Credit) claimed.
Source: BSE
