India automobile major Maruti Suzuki on Tuesday received a draft assessment order from the Income Tax department for FY 2019-20 amounting to Rs 2,159 crore.
The IT order follows a September 29 show cause notice from the Goods & Services Tax authorities. The show cause notice was issued for proposing to demand interest and impose a penalty; besides, appropriating tax already paid amounted to Rs 139.3 crore, according to an exchange filing from the company.
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“The company will file a reply to the Show Cause Notice before the Adjudicating Authority,” Maruti Suzuki said in a filing, at that time.
The company’s shares closed at Rs 10,327 apiece, down 2.37% from its previous close of Rs 10,610.60 on September 29.