Maruti Suzuki Gets Favourable Income Tax Appellate Tribunal Order

New Delhi: Maruti Suzuki on Thursday said it has received a favourable Income Tax Appellate Tribunal Order covering eight financial years and sees a positive tax impact of approximately Rs 13,000 crore.

“The company has received the Income Tax Appellate Tribunal order for eight years from F.Y. 2013-14 to F.Y. 2019-20 & F.Y. 2021-22 wherein the issues have been majorly allowed in favour of the company, having a positive tax impact (including interest) of Rs 1,30,000 million (approx),” Maruti Suzuki said in an exchange filing.

“The company would be reducing primarily the interest component from the contingent liability to the tune of Rs 63,000 million (approximately). The company will file an application before the jurisdictional Assessing Officer to give effect to this order,” it added.

Maruti Suzuki noted that this order will have no major impact on financials, operations or other activities of the company.

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