MI Torica, a subsidiary of Uno Minda Limited, has received an order from the Central Goods & Service Tax department regarding excess input tax credit availed and RCM tax liability for the financial year 2019-20. The total amount demanded is ₹25,10,425, which includes tax, interest, and penalty. MI Torica intends to contest this order.
Details of the Tax Order
MI Torica India Pvt. Ltd., a subsidiary of Uno Minda Limited, has received an order from the Office of the Assistant Commissioner of Central Goods & Service Tax, Division West 1, Gurugram Commissionerate. The order pertains to excess Input Tax Credit availed and RCM Tax liability not discharged on ocean freight for the financial year 2019-20.
Financial Implications
The order demands that MI Torica pay the following amounts:
Tax: ₹10,55,706
Interest: ₹3,99,013
Penalty: ₹10,55,706
Total: ₹25,10,425
This order was received on January 05, 2026.
Company Response
MI Torica intends to contest the order based on the merits of the case. The company does not foresee any material impact on its financial or operational activities.
Source: BSE
