Bajaj Auto Faces Tax Demand From Assam Authorities

Bajaj Auto has received a tax demand of over Rs 3.5 crore from the Assam authorities. This demand is due to an excess input tax credit availed in GSTR-3B compared to GSTR-2A for the fiscal year 2021-2022. The authorities have demanded the difference as a tax amounting to Rs 3,51,87,014, along with an applicable interest and penalty of Rs 35,18,701, according to Bajaj Auto's regulatory filing.

The company stated that it availed input tax credit after fulfilling all conditions as per the GST law's provisions. As a result, Bajaj Auto plans to file an appeal against the order, emphasizing that it does not hold major financial consequences for the company.

Amidst this development, Bajaj Auto's shares saw an upward movement, closing at a 1.25% increase at Rs 8,903.90 apiece on the Bombay Stock Exchange on Tuesday.

(With inputs from agencies.)