New delhi: Bajaj Auto Ltd on Friday said it has been imposed penalty and interest of Rs 10 crore by the tax authority in a matter related to differential gst on Classification of Instrances CLLULLENG .
The Joint Commissioner, Central GST, Pune – II Commission Passed An Order Confirming Classification of Instruments Cluster Under HSN Code 8708/8714 For the Period July 2017 to MARCH 2022222222222222 ICATION of 9029 Adopted by the company, bajaj auto said in a Regulatory filing.
“The order has confirmed demand of differential GST Amouncing to Rs 10,03,91,402. The joint commissioner has approved and adjusted the said demand against the TAX DEPOSITED by the COMPANY.
Bajaj Auto Further Said, “The Order has also confirmed applicable interest and equivalent penalty of Rs 10,03,91,402 and general penalty of Rs 25,000, Resulting in an overall penalty of Rs 10,04,16,16,402.”
The company said it 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.