Bajaj vehicle receives Over Rs 10 Crore GST Penalty
New Delhi: Bajaj automobile Ltd on friday stated it's been imposed penalty and interest of over Rs 10 crore through the tax authority in a remember associated with differential GST on class of contraptions cluster and will legally undertaking it.
The Joint Commissioner, principal GST, pune -- II Commissionerate exceeded an order confirming category of gadgets cluster beneath HSN code 8708/8714 for the period July 2017 to march 2022, as towards category of 9029 followed by the corporation, Bajaj vehicle stated in a regulatory filing.
"The order has confirmed call for of differential GST amounting to Rs 10,03,91,402. The Joint Commissioner has appropriated and altered the stated call for in opposition to the tax deposited by using the business enterprise," it stated.
Bajaj car in addition stated, "the order has also confirmed applicable interest and equivalent penalty of Rs 10,03,91,402 and wellknown penalty of Rs 25,000, ensuing in an universal penalty of Rs 10,04,16,402."
The company stated it "believes that the order exceeded by using the Joint Commissioner lacks advantage and beyond jurisdiction. In addition, the order exceeded by the Joint Commissioner is dismissing the writ petition filed via the corporation against the stated show motive notice, that's pending before the bombay high court."
Putting forward that it has a totally strong case, Bajaj car said "appropriate legal action would be initiated" against the stated order, which does no longer have any most important economic implications on it.
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