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With the GST rate cuts expected to bring domestic sales back on a growth path, Hyundai Motor India is looking to ride on a ‘double engine’ drive of accelerated sales in the home market and continued momentum in exports, according to a top company official.
In what could result in a Goods and Services Tax (GST) liability of approximately ₹141 crore for General Motors, the Maharashtra Authority for Advance Rulings (AAR) has held that 18% GST is applicable on the assignment or transfer of leasehold land by General Motors India to Hyundai Motor India Ltd (HMIL).
South Korean automaker’s Indian arm, Hyundai Motor India Limited, received two goods and service tax (GST) notices from the Government of Tamil Nadu and the Government of Maharashtra, amounting to nearly 16 crore, according to an exchange filing on Friday, February 28.
The Madras HC has stayed a GST demand of about Rs.80 crore on salary paid by Hyundai Motors to seconded employees.