bullet makers eicher motors and lic got gst tax notice stock market update mdn
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Eicher Motors and LIC Share Price: The Indian stock market has broken on Tuesday. At 1.15 pm, Sensex was trading at 71,761.14, down 0.71 percent or 510.80 points. Whereas, Nifty was trading at 21,619.85, falling 0.56 percent or 122.05 points. Meanwhile, after receiving the tax notice from the GST department, there has been a big fall in the shares of Bullet maker Eicher Motors and Life Insurance Corporation of India (LIC). At 1.50 pm, LIC shares fell by 2.21 percent i.e. Rs 19 and reached Rs 839.75. Whereas, shares of Eicher Motors have fallen by 3.37 percent i.e. Rs 136.05 to reach Rs 3,902.30. It is being told that Eicher Motor has received a tax demand notice of Rs 129 crore. The company has decided to challenge this. This notice includes tax notice of Rs 129.79 crore and penalty of Rs 11.8 crore. Eicher Motors has received this notice from Central GST and Central Excise Chennai. According to the information given by the company, the notice has been given due to GST credit mismatch. Let us tell you that in the last one year, investors have got 21 percent return from the shares of Eicher Motors.
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