Maruti Suzuki Told To Pay INR 150 Crore "Additional Excise Duty"


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Akash1886

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Friends,

Maruti Suzuki has been asked by a taxation tribunal to pay the additional excise duty of INR 150 Crores. It has been found that Maruti had been making cars on a higher cost than what it claimed in excise return provided to government. If Maruti does not comply and pay this amount by December 2014 then it might be charged interest and penalty amounting to INR 800 Crores.

This long running case started when the CESTAT found Maruti Suzuki guilty of producing cars at a higher price than it was claiming in its excise returns to the government. According to the tribunal, Maruti dealers run promotional schemes including offering of discounts, specially around the festive season. These schemes or promotional expenses are then adjusted by the company from the dealers through the margins offered on the automobiles to them.
The tribunal simply refused Maruti's argument in this regards.

Link

Regards

Akash
 
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