Maruti Suzuki receives show cause notice from GST authority

Maruti Suzuki India Ltd received a show cause notice from the GST authority for the period of July, 2017 to August, 2022, the company said in an exchange filing on late Friday evening. The notice has been issued demanding interest and impose penalty, besides appropriating Rs 139 crore tax which is already paid, it informed.

“The company will file a reply to the Show Cause Notice before the Adjudicating Authority,” Maruti Suzuki said.

The automaker also said that the notice does not have an impact on financial, operation or other activities of the company.

It also informed the exchanges of a favourable order the company received from the High Court of Punjab and Haryana pertaining to the Central Excise Department’s where the total tax and penalty amount involved in the appeal was Rs 57.2 crore.

The department had filed appeals for the period June, 2006 to March, 2011 with regards to Input Service Credit on certain services, which now stand dismissed.

“The Central Excise Department had filed appeals before the Hon’ble High Court of Punjab and Haryana against an earlier Tribunal order of August 2016 which was passed in favour of the company whereby Input Service Credit on certain services was allowed to the Company and penalty was also dropped against the company,” Maruti Suzuki said. It also informed that there is no impact on financial, operation or other activities of the company due to the said order.

For all the latest Automobile News Click Here 

 For the latest news and updates, follow us on Google News

Read original article here

Denial of responsibility! TheDailyCheck is an automatic aggregator around the global media. All the content are available free on Internet. We have just arranged it in one platform for educational purpose only. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials on our website, please contact us by email – [email protected] The content will be deleted within 24 hours.