Maruti gets Rs 5,786 crore tax notice

New Delhi: Maruti Suzuki India on Tuesday said it has received a draft assessment order from the Income Tax Authority involving a demand of Rs 5,786 crore for the financial year 2022–23.

The company clarified that the notice will not have any impact on its financial or operational performance. It added that it will file objections before the Dispute Resolution Panel as part of the due legal process. According to the automaker, the draft order proposes certain additions and disallowances amounting to Rs 57,864 million to its reported income.

“The company has received a Draft Assessment Order for FY2022–23 wherein certain additions/disallowances amounting to Rs 57,864 million with respect to returned income have been proposed,” it said in a regulatory filing.

Despite the development, investor sentiment remained positive. Shares of the company were trading at Rs 12,986 apiece, up 1.82 per cent during the session.

On the financial front, the company reported total tax expenses of Rs 10,360 million in its unaudited third-quarter results. Its sales stood at Rs 667,769 million, while profit after tax (PAT) came in at Rs 37,940 million.