Maruti Suzuki gets GST adjudication order from West Bengal authority
MARUTI · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
On the reaction day the stock moved 5.2 pts more than Nifty 100 and 3.8 pts more than its Passenger Cars & Utility Vehicles peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
Minute windows have no benchmark: there is no intraday index history to compare against.
Maruti Suzuki received three adjudication orders from the West Bengal GST Department for April 2020 to March 2023, related to GST credit availment. The orders confirm a tax demand of Rs 34.45 million and an equal penalty of Rs 34.45 million, plus applicable interest. A small demand of Rs 0.05 million was dropped. The company plans to appeal before the first appellate authority and states there is no major impact on its financials, operations, or other activities.
Total demand and penalty of about Rs 69 million plus interest is small for Maruti; company will appeal and says no material impact on operations or financials.