HCL Infosystems, the India-focused IT arm of HCL Group, said it received a tax demand of Rs 312.34 cr plus interest and an amount equal to the interest amount as penalty.
The company, which is already struggling with losses, did not specify the amount of interest involved or the year to which the dues relate.
It said the demand has been raised under CENVAT Credit Rules.
“The company has obtained legal and export opinions, which support the stand of the company,” it said. “The company will file an appeal before the competent authority,” it added.
HCL Infosystems provides IT services, sells and distributes IT and telephone-related hardware including cellular phones in India.
The company used to get much of its revenue from distributing Nokia handsets in India and also used to have its own brand of computers and laptops.
However, it has struggled in recent years due to the shut down of Nokia as well as the downturn in demand for PCs.