Maruti Suzuki India on Wednesday said the Gujarat GST authority has upheld the tax demand of Rs 173.9 crore along with a penalty of Rs 17.4 crore against its arm Suzuki Motor Gujarat Pvt Ltd and the subsidiary company will move the first appellate authority to challenge the order. The country’s largest passenger car manufacturer in an exchange filing said that its arm Suzuki Motor Gujarat Pvt Ltd has received an adjudication order dated December 21, 2023, from the Gujarat GST authority upholding demand of Rs 173.9 crore along with a penalty of Rs 17.4 crore related to tax liability under reverse charge basis on certain services. The adjudication order issued by Gujarat GST Department is for the period July 2017 to August 2022, Maruti Suzuki India said. Suzuki Motor Gujarat (SMG) had already paid the tax amount of Rs 173.9 crore before the issuance of show cause notice, it added. Maruti Suzuki shares declined by 1.19 per cent to Rs 10,075.45 on Wednesday.

Source: Economic Times January 04, 2024 04:59 UTC