Maruti Suzuki to Contest Draft Tax Order of Rs 5,786.4 Crore

Maruti Suzuki India has received a draft tax assessment order of Rs 5,786.4 crore from tax authorities for FY 2022-23, citing additions and disallowances. The company plans to challenge this order with no impact on its operations or financial health noted.

Maruti Suzuki India (MSI) announced on Tuesday that it has been issued a draft assessment order valued at Rs 5,786.4 crore by the income tax authority. The noted amount involves proposed additions and disallowances concerning the fiscal year 2022-2023.

In response, MSI has expressed its intention to file objections with the dispute resolution panel as it challenges the order. The company maintains that there will be no impacts on its financial, operational, or other activities due to this situation.

Shares of Maruti Suzuki saw an uptick, closing at Rs 12,993.55 each, marking a 1.88 percent increase on the BSE.

(With inputs from agencies.)