Uno Minda Limited has disclosed receiving an order from the Goods & Service Tax authority imposing penalties related to HSN misclassification across two distinct periods. The total demand includes significant tax arrears, applicable interest, and penalties amounting to ₹4.66 crore for the initial period (Nov 2017–Mar 2020) and ₹9.22 crore for the subsequent period (Apr 2020–Oct 2023). The company plans to contest the order on its merits, stating it foresees no material impact on its financials or operations.
Disclosure of Penalty Imposition
Uno Minda Limited has made a regulatory disclosure detailing an order received from the Office of the Commissioner of Goods & Service Tax and Central Excise, Salem, Tamil Nadu. The order concerns alleged HSN misclassification issues identified by the authority. The company received this official communication on March 11, 2026, around 09:00 A.M. (IST).
Financial Demand Breakdown
The demand raised by the tax authority is split into two distinct periods:
Period 1: November 15, 2017, to March 2020
- Tax Demand: Rs. 42,37,98,584/-
- Penalty Imposed: Rs. 4,23,79,859/-
- Interest: As applicable
Period 2: April 2020 to October 2023
- Tax Demand: Rs. 83,81,25,560/-
- Penalty Imposed: Rs. 8,38,12,557/-
- Interest: As applicable
Company Response and Outlook
The company has confirmed its intent to contest the said order based on the merits of the case. Importantly, Uno Minda Limited has assessed the situation and does not foresee any material impact arising from this order on its financial, operational, or other activities.
Source: BSE
