Maruti Suzuki Wins ITAT Order, Tax Impact ₹130,000 Million

Maruti Suzuki India Ltd has received an Income Tax Appellate Tribunal (ITAT) Order for eight years from FY 2013-14 to FY 2019-20 and FY 2021-22. The order is largely in favor of the company, with a positive tax impact (including interest) of approximately ₹130,000 million. The company will reduce its contingent liability by approximately ₹63,000 million, primarily the interest component. Maruti Suzuki will file an application with the jurisdictional Assessing Officer to implement the order. The company states there is no major impact on its financials, operations, or other activities due to this order.