“,”elements”:[]}],”thumb_big”:”https://etimg.etb2bimg.com/thumb/msid-117780683,imgsize-39806,width-1200,height=765,overlay-etauto/industry/bajaj-auto-gets-over-inr-10-cr-gst-penalty.jpg”,”thumb_small”:”https://etimg.etb2bimg.com/thumb/img-size-39806/117780683.cms?width=150&height=112″,”time”:”2025-01-31 13:59:51″,”is_live”:false,”prime_id”:0,”highlights”:[],”highlights_html”:””,”also_read_available”:false,”body”:”
Asserting that it has a very strong case, Bajaj Auto said “appropriate legal action would be initiated” against the said order, which does not have any major financial implications on it.‘>
Bajaj Auto Ltd on Friday said it has been imposed penalty and interest of over INR 10 crore by the tax authority in a matter related to differential GST on classification of instruments cluster and will legally challenge it. The Joint Commissioner, Central GST, Pune – II Commissionerate passed an order confirming classification of instruments cluster under HSN code 8708/8714 for the period July 2017 to March 2022, as against classification of 9029 adopted by the company, Bajaj Auto said in a regulatory filing.
“The order has confirmed demand of differential GST amounting to INR 10,03,91,402. The Joint Commissioner has appropriated and adjusted the said demand against the tax deposited by the company,” it said.
Bajaj Auto further said, “the order has also confirmed applicable interest and equivalent penalty of INR 10,03,91,402 and general penalty of INR 25,000, resulting in an overall penalty of INR 10,04,16,402.”
The company said it “believes that the order passed by the Joint Commissioner lacks merit and beyond jurisdiction. Further, the order passed by the Joint Commissioner is disregarding the writ petition filed by the company against the said show cause notice, which is pending before the Bombay High Court.”
Asserting that it has a very strong case, Bajaj Auto said “appropriate legal action would be initiated” against the said order, which does not have any major financial implications on it. “,”next_sibling”:[{“msid”:117780142,”title”:”EU vows ‘action plan’ for beleaguered auto sector”,”entity_type”:”ARTICLE”,”link”:”/news/industry/eu-vows-action-plan-for-beleaguered-auto-sector/117780142″,”link_next_mobile”:”/news/industry/eu-vows-action-plan-for-beleaguered-auto-sector/117780142?next=1″,”category_name”:null,”category_name_seo”:”industry”}],”related_content”:[{“msid”:”117776875″,”title”:”Bajaj Auto gets over Rs 10 cr GST penalty”,”entity_type”:”IMAGES”,”seopath”:”industry/auto/auto-news/bajaj-auto-gets-over-rs-10-cr-gst-penalty”,”category_name”:”Bajaj Auto gets over Rs 10 cr GST penalty”,”synopsis”:”Bajaj Auto gets over Rs 10 cr GST penalty”,”thumb”:”https://etimg.etb2bimg.com/thumb/img-size-40620/117776875.cms?width=150&height=112″,”link”:”https://etimg.etb2bimg.com/photo/117776875.cms?/117776875″}],”seoschemas”:false,”social_share”:{“fb”:”/news/industry/bajaj-auto-gets-over-inr-10-cr-gst-penalty/117780683?utm_source=facebook&utm_medium={{DEVICE_TYPE}}”,”x”:”/news/industry/bajaj-auto-gets-over-inr-10-cr-gst-penalty/117780683?utm_source=twitter&utm_medium={{DEVICE_TYPE}}”,”whatsapp”:”/news/industry/bajaj-auto-gets-over-inr-10-cr-gst-penalty/117780683?utm_source=wapp&utm_medium={{DEVICE_TYPE}}”,”linkdin”:”/news/industry/bajaj-auto-gets-over-inr-10-cr-gst-penalty/117780683?utm_source=linkedin&utm_medium={{DEVICE_TYPE}}”,”telegram”:”/news/industry/bajaj-auto-gets-over-inr-10-cr-gst-penalty/117780683?utm_source=telegram&utm_medium={{DEVICE_TYPE}}”,”copy”:”/news/industry/bajaj-auto-gets-over-inr-10-cr-gst-penalty/117780683?utm_source=copy&utm_medium={{DEVICE_TYPE}}”},”cat_msid”:25384693,”cat_sub_msid”:false,”msid”:117780683,”entity_type”:”ARTICLE”,”title”:”Bajaj Auto gets over INR 10 cr GST penalty”,”synopsis”:””The order has confirmed demand of differential GST amounting to INR 10,03,91,402. The Joint Commissioner has appropriated and adjusted the said demand against the tax deposited by the company,” it said. “,”titleseo”:”industry/bajaj-auto-gets-over-inr-10-cr-gst-penalty”,”status”:”ACTIVE”,”authors”:[],”Alttitle”:{“minfo”:””},”artag”:”PTI”,”artdate”:”2025-01-31 13:59:51″,”lastupd”:”2025-01-31 14:05:26″,”breadcrumbTags”:[“Bajaj Auto GST penalty”,”GST compliance Bajaj Auto”,”Bajaj Auto legal action”,”differential GST classification”,”legal challenge GST penalty”,”Bombay High Court writ petition”,”HSN code 8708/8714″,”overall penalty Rs 10 crores”,”Bajaj Auto Ltd”,”bajaj auto”,”bajaj auto ltd”],”secinfo”:{“seolocation”:”industry/bajaj-auto-gets-over-inr-10-cr-gst-penalty”}}” data-authors=”[” data-author-list data-category-name=”Industry” data-category_id=”23″ data-cat_msid=”25384693″ data-date=”2025-01-31″ data-index=”article_1″ data-keywords=”Bajaj Auto GST penalty, GST compliance Bajaj Auto, Bajaj Auto legal action, differential GST classification, legal challenge GST penalty, Bombay High Court writ petition, HSN code 8708/8714, overall penalty Rs 10 crores, Bajaj Auto Ltd, bajaj auto, bajaj auto ltd” data-type=”news”>
“The order has confirmed demand of differential GST amounting to INR 10,03,91,402. The Joint Commissioner has appropriated and adjusted the said demand against the tax deposited by the company,” it said.
- Updated On Jan 31, 2025 at 02:05 PM IST
Asserting that it has a very strong case, Bajaj Auto said “appropriate legal action would be initiated” against the said order, which does not have any major financial implications on it.“>
Bajaj Auto Ltd on Friday said it has been imposed penalty and interest of over INR 10 crore by the tax authority in a matter related to differential GST on classification of instruments cluster and will legally challenge it. The Joint Commissioner, Central GST, Pune – II Commissionerate passed an order confirming classification of instruments cluster under HSN code 8708/8714 for the period July 2017 to March 2022, as against classification of 9029 adopted by the company, Bajaj Auto said in a regulatory filing. “The order has confirmed demand of differential GST amounting to INR 10,03,91,402. The Joint Commissioner has appropriated and adjusted the said demand against the tax deposited by the company,” it said.
Bajaj Auto further said, “the order has also confirmed applicable interest and equivalent penalty of INR 10,03,91,402 and general penalty of INR 25,000, resulting in an overall penalty of INR 10,04,16,402.”
The company said it “believes that the order passed by the Joint Commissioner lacks merit and beyond jurisdiction. Further, the order passed by the Joint Commissioner is disregarding the writ petition filed by the company against the said show cause notice, which is pending before the Bombay High Court.” Asserting that it has a very strong case, Bajaj Auto said “appropriate legal action would be initiated” against the said order, which does not have any major financial implications on it.
- Published On Jan 31, 2025 at 01:59 PM IST
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