Maruti Suzuki India receives revised Rs 2.5 crore tax demand from CESTAT, Chandigarh
The company stated its intention to challenge this demand in the country's highest court.
- Apr 17, 2024,
- Updated Apr 17, 2024 1:58 PM IST
Maruti Suzuki revealed on Wednesday that it faces a tax demand of Rs 2.5 crore from the Customs, Excise, and Service Tax Appellate Tribunal (CESTAT) in Chandigarh. The company stated its intention to challenge this demand in the country's highest court.
"Even on revised total demand of Rs. 25 million, the company will be filing appeal against the order before the Supreme Court. As per the company's view, the order will have no major impact on the financial, operation or other activities of the Company," Maruti Suzuki said in an exchange filing.
As per the exchange filing, the tax demand pertains to a period of four years from April 15, 2006, to March 31, 2010. Initially set at Rs 11.5 crore, the demand has now been revised to Rs 2.5 crore.
"The company has received an order dated 16th April 2024 from CESTAT, Chandigarh wherein appeals filed by company for period l5th April 2006 to 31st March 2010 in matter of service tax liability under reverse charge basis on certain services have been partially allowed. Consequently, against the original total demand of Rs. 115 million, the revised total demand stands at Rs. 25 million," the filing said.
Maruti Suzuki revealed on Wednesday that it faces a tax demand of Rs 2.5 crore from the Customs, Excise, and Service Tax Appellate Tribunal (CESTAT) in Chandigarh. The company stated its intention to challenge this demand in the country's highest court.
"Even on revised total demand of Rs. 25 million, the company will be filing appeal against the order before the Supreme Court. As per the company's view, the order will have no major impact on the financial, operation or other activities of the Company," Maruti Suzuki said in an exchange filing.
As per the exchange filing, the tax demand pertains to a period of four years from April 15, 2006, to March 31, 2010. Initially set at Rs 11.5 crore, the demand has now been revised to Rs 2.5 crore.
"The company has received an order dated 16th April 2024 from CESTAT, Chandigarh wherein appeals filed by company for period l5th April 2006 to 31st March 2010 in matter of service tax liability under reverse charge basis on certain services have been partially allowed. Consequently, against the original total demand of Rs. 115 million, the revised total demand stands at Rs. 25 million," the filing said.