3M India Limited has informed the Exchange about General Updates on Tax Litigations
3MINDIA · price
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3M India has received the final settlement order (Form 4) from the Principal Commissioner of Income Tax, Bengaluru-2, under the government's Direct Tax Vivad Se Vishwas Scheme, 2024, for the second of two tax dispute applications related to FY 2011-12. The company had earlier opted into this scheme to settle open tax litigations spanning FY 2004-05 to FY 2013-14. The aggregate tax amount of Rs 1.94 Crores under the scheme for this second application has already been paid. The company has clarified that this settlement has no material impact on its operations or financial position.
This is a routine closure of old tax disputes through a government amnesty scheme, with the settlement amount already paid and disclosed as immaterial to operations. Shareholders should not expect any meaningful financial or operational impact from this development.