Bajaj Auto Wins Appeal Against ₹1.49 Lakh Tax Demand

Bajaj Auto Ltd has received a favorable order from the Additional Commissioner (Appeals-I), Central Tax, Pune. This order sets aside a previous demand of ₹74,818 for alleged wilful suppression of non-reversal of Input Tax Credit (ITC) on the sale of MEIS scrips for the period July 2017 to March 2020, along with an equal amount for interest and penalty. The appellate authority dropped the allegation of wilful suppression and set aside the original order. This ruling is a significant relief for the company, negating the potential financial impact of the demand.