Guwahati: Bajaj Auto Ltd has revealed that it has received a tax demand notice of over ₹3.5 crore from the Assam tax department for allegedly claiming excess input tax credit (ITC) during the financial year 2021–22.
In a regulatory filing, the Pune-based automaker stated that the order was issued for “excess input tax credit availed in GSTR-3B compared to GSTR-2A,” with the total demand — including interest and penalties — amounting to ₹3,51,87,014.
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The company, however, asserted that it had claimed the ITC in full compliance with the provisions of the Goods and Services Tax (GST) Act and plans to contest the order. “The company availed input tax credit after fulfilling all conditions as per GST provisions. Based on the merits of the case, the company will be filing an appeal,” Bajaj Auto said.
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Bajaj Auto further clarified that the order is not expected to have any material financial impact on its operations. On Tuesday, shares of Bajaj Auto closed 1.25% higher at ₹8,903.90 apiece on the Bombay Stock Exchange (BSE).
