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Maruti Suzuki India Ltd received the final Income Tax Assessment Order for FY22 with a total demand of ₹1,182.5 crore, plans to appeal to the IT Appellate Tribunal, and confirmed no impact on its financials or operations.
Car market leader Maruti Suzuki India Ltd (MSIL) on Friday (January 23) said it has received the final assessment order from the Income Tax Authority for the financial year 2021–22. The total demand, including interest, amounts to ₹1,182.5 crore.
The company stated that it will be filing an appeal before the Income Tax Appellate Tribunal. Maruti Suzuki India confirmed that there is no impact on its financials, operations, or other business activities due to this order.
This communication follows an earlier intimation to the stock exchanges on March 25, 2025, regarding the pending assessment for the same financial year.
Also Read: Maruti Suzuki starts exporting Victoris as ‘Across’, over 450 SUVs shipped from two ports
Last week, Maruti Suzuki India is set to invest ₹35,000 crore in the development of a new manufacturing plant at Khoraj in Gujarat, targeting an annual production capacity of 10 lakh cars. The facility is expected to generate employment for about 12,000 people. The plant will be established on 1,750 acres of land allotted by the Gujarat Industrial Development Corporation (GIDC).
The investment letter was handed over by Maruti Suzuki Managing Director Shriyut Hitachi Takeuchi to Gujarat Chief Minister Bhupendra Patel during a ceremony in Gandhinagar. Deputy Chief Minister Harsh Sanghvi and Maruti Suzuki Whole Time Director and Executive Committee Member Sunil Kakkar were also present.
"Glad to witness the Investment Letter Handover by Maruti Suzuki India Limited to the Government of Gujarat for setting up a mega car manufacturing facility at Khoraj, with an investment of ₹35,000 crore," CM Patel said in a post on X. He added that the project will catalyse the growth of ancillary units and MSMEs, creating a robust auto manufacturing cluster.
Also Read: Maruti Suzuki India approves land parcel purchase worth nearly ₹5,000 crore in Gujarat; Stock falls
Shares of Maruti Suzuki India Ltd ended at ₹15,469.60, down by ₹294.40, or 1.87%, on the BSE.
