Minda Corporation Subsidiary Receives GST Order, Anticipates Favorable Appeal
Minda Corporation Limited announced that Minda Instruments Limited, a material subsidiary, has received an order from the Joint Commissioner of GST & Central Excise in Chennai, Tamil Nadu. The order, dated March 30, 2026, confirms a demand for Goods and Services Tax (GST) amounting to Rs 4,75,88,732 for the fiscal years 2019-2020 and 2020-2021. The demand is related to an alleged short payment of GST due to misclassification of goods under the Central Goods and Services Tax Act, 2017, and similar provisions under the Tamil Nadu Goods and Services Tax Act 2017.The order also includes applicable penalties and interest. Minda Corporation intends to file an appeal before the Appellate Authority within the prescribed timeframe. The company anticipates a favorable outcome and does not expect the order to have a material financial impact.
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