The assessment orders and demand notices are for six assessment years including FY14, FY15, FY16, FY17, FY18 and FY20. The notice is on account of certain disallowances in the mentioned assessment years.
The company will file appeals against the orders with the appellate authorities seeking filing of rectification applications.
“In the opinion of the management, the demand raised is unsustainable in nature, and is unlikely to have material impact on financials, operations or other activities of the company,” it said in a press release.
Total sales made by Hero MotoCorp rose 5.5 per cent year-on-year in FY24 at 56.21 lakh units.
The company had sold 53,28,546 units in 2022-23, Hero MotoCorp said in a statement.Motorcycle sales in FY24 stood at 51,90,672 units as against 49,59,156 units in FY23. Scooter sales were at 430,783 units in FY24 as compared to 369,390 units in FY23, the company said.Domestic sales in FY24 were higher at 54,20,532 units as compared to 51,55,793 units in FY23, it added.