NDR Auto Components Faces ₹9.92 Cr Tax Demand & Penalty

NDR Auto Components Ltd has received an order from the Additional Commissioner of Central Goods and Service Tax, Gurugram Commissionerate, concerning the misclassification of two-wheeler seats under the wrong HSN code. The order confirms a demand of ₹4.96 crores for the period FY 2020-21 to FY 2023-24 (up to January 2024), which the company had already deposited under protest. Additionally, a penalty of ₹4.96 crores and applicable interest have been imposed. The company is filing an appeal against this order and, based on legal advice, is confident of a favorable outcome with no anticipated impact on its financials or operations.