Cholamandalam Investment and Finance Company Limited has received a GST assessment order from the Office of the Joint Commissioner, GST Division, Gandhinagar, Gujarat, pertaining to the financial years 2017 to 2022.

The order, dated April 16, 2025, and received on May 13, 2025, alleges (i) short payment of tax under Rule 32(5) of the CGST Rules, 2017 relating to the sale of repossessed vehicles, and (ii) excess input tax credit claimed under Section 17(4) of the same rules.

A total penalty of ₹22.44 lakh has been imposed, along with interest of ₹9.91 lakh. The company has indicated its intention to challenge the order before the Appellate Authority.

Cholamandalam has clarified that the financial impact is limited to the imposed interest and penalty, with no effect on its operational or other business activities.

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