Ashok Leyland & Nissan JV gets 200 crore tax notice

#hashtags: #Nissan #Renault

The Ashok Leyland and Nissan JV, has been slapped with a 200 crore fine.

This is because the machinery they imported for manufacturing were under the Export promotion Capital goods scheme. The machinery that was imported by Renault-Nissan did not make any products which were exported and hence they have to pay a fine. It’s likely that the machines could get seized.

The JV had a bad financial year, reporting a loss of 791 crore in the 2014-2015 financial year....