The central excise department has sent notice to Larsen & Toubro for non-payment of Rs 160 crore excise duty. The company has said that it will challenge the excise duty demand notice.
As per PTI reports, the notice has been sent to the company in lieu of heavy earth moving vehicles imported by the company. The company used Komatsu India Private Limited to import the vehicles.
The company has responded that the notice will be replied by the concerned department and this is routine process of excise department to send notices from companies.
The stock was trading flat on stock exchanges today. The stock touched intraday high and low of Rs 1457 and Rs 1430.
L&T Construction announced today that the company has received orders worth Rs 2044 crore for various projects during the second quarter.
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