Honda India Power Products Limited Wins Tax Appeal, Demand Dropped
Honda India Power Products Limited has won a tax appeal. A demand of ₹5,40,956/- for FY 2019-20, including ₹3,32,048/- ITC excess, interest, and penalty, has been dropped by the Joint Commissioner of State Tax, Raipur. The company reported no material financial or operational impact.
The company explicitly stated that there is no material impact on its financial, operational, or other activities.
The company has won a tax appeal, leading to the dropping of a demand, which is a positive outcome.
Honda India Power Products Limited has received an order from the Office of the Joint Commissioner of State Tax, Raipur Division - 1, Chhattisgarh, dropping the demand previously raised.
The original demand order, issued by the Assistant Commissioner of State Tax, related to alleged violations concerning Input Tax Credit (ITC) excess availed amounting to ₹3,32,048/-, along with interest of ₹1,75,703/- and penalty of ₹33,205/-, totaling ₹5,40,956/- for the financial year 2019-20. This demand was reported on November 28, 2024.
The company had filed an appeal against this order with the Joint Commissioner of State Tax (Appeal), Raipur, Chhattisgarh. The appeal has now been allowed, resulting in the dropping of the demand.
Honda India Power Products Limited has stated that this development has no material impact on its financial, operational, or other activities.
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Honda India Power Products Limited filed this with the NSE as a statutory disclosure, categorised under regulatory impact. It is a primary document, not a recommendation, and the desk marks it low impact, the band that almost never moves a portfolio on its own.
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See the model portfoliosA plain-language summary of a public exchange filing by Honda India Power Products Limited. Read the original for the full detail.