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The latest update is out from Maruti Suzuki India Limited ( (IN:MARUTI) ).
Maruti Suzuki India Limited has announced that its wholly owned subsidiary, Suzuki Motor Gujarat Private Limited, received an appellate order from the Gujarat CGST Authority. The order upholds a tax demand of Rs. 861 million for services under reverse charge from April 2020 to August 2022, along with an interest and a penalty of Rs. 86 million. Despite the financial implications, the company states that this order will not significantly impact its financial or operational activities. Suzuki Motor Gujarat plans to appeal the decision before the Tribunal.
More about Maruti Suzuki India Limited
Maruti Suzuki India Limited is a prominent player in the automotive industry, primarily focusing on manufacturing and selling passenger vehicles. It operates in India and is known for its wide range of cars, catering to various market segments.
Average Trading Volume: 7,538
Technical Sentiment Signal: Strong Buy
Current Market Cap: 3972.3B INR
See more insights into MARUTI stock on TipRanks’ Stock Analysis page.