Maruti Suzuki gets tax demand notice of Rs 2.5 crore
According to information provided in the exchange filing, the tax demand notice is for the four-year period, with the previous demand of ₹11.5 crore being revised to ₹2.5 crore.
India’s leading automotive major Maruti Suzuki received a tax demand notice for Rs 2.5 crore from the Customs, Excise and Service Tax Appellate Tribunal (CESTAT) Chandigarh. The company said it will file an appeal against the same in the Supreme Court.
The company also clarified that this notice will not have any impact on the financial activities, operations or other activities of the company. According to information provided in the exchange filing, the tax demand notice is for the four-year period, with the previous demand of ₹11.5 crore being revised to ₹2.5 crore.
According to the exchange filing, the company has received a notice dated April 16, 2024 from CESTAT, Chandigarh, regarding the appeal filed by the company for the period April 5, 2006 to March 31, 2010 in the matter of tax service on the basis of reverse charge on certain services. The original total demand against the company was Rs 11.5 crore which has now been revised to a total demand of Rs 2.5 crore.
In terms of new launches, the automobile major is all set to launch a revamped, facelifted version of Swift, one of India’s most popular hatchbacks in the country in the second week of May.
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