Bajaj Auto to take 'legal action' after it gets over Rs 10 cr GST penalty

Q: How long will it take to read this news story?

The story "Bajaj Auto to take &#039;legal action&#039; after it gets over Rs 10 cr GST penalty" has 292 words across 7 sentences, which will take approximately 2 - 3 minutes for the average person to read.

Q: Which news outlet covered this story?

The story "Bajaj Auto to take &#039;legal action&#039; after it gets over Rs 10 cr GST penalty" was covered 11 hours ago by Business Standard, a news publisher based in India.

Q: How trustworthy is 'Business Standard' news outlet?

Business Standard is a fully independent (privately-owned) news outlet established in 1975 that covers mostly business and finance news. The outlet is headquartered in India and publishes an average of 398 news stories per day. It's most recent story was published 2 hours ago.

Q: What do people currently think of this news story?

The sentiment for this story is currently Neutral, indicating that people are not responding positively or negatively to this news.

Q: How do I report this news for inaccuracy?

You can report an inaccurate news publication to us via our contact page. Please also include the news #ID number and the URL to this story.<ul><li>News ID: #25665344</li><li>URL: https://beamstart.com/news/bajaj-auto-to-take-legal-17383151199559</li></ul>

Business Standard Logo Business Standard 11h ago

Bajaj Auto to take 'legal action' after it gets over Rs 10 cr GST penalty - Business Standard

Quick Summary:

The Joint Commissioner, Central GST, Pune -- II Commissionerate passed an order confirming classification of instruments cluster under HSN code 8708/8714 for the period July 2017 to March 2022, as against classification of 9029 adopted by the company, Bajaj Auto said in a regulatory filing.

Bajaj Auto Ltd on Friday said it has been imposed penalty and interest of over Rs 10 crore by the tax authority in a matter related to differential GST on classification of instruments cluster and will legally challenge it.

Bajaj Auto further said, "the order has also confirmed applicable interest and equivalent penalty of Rs 10,03,91,402 and general penalty of Rs 25,000, resulting in an overall penalty of Rs 10,04,16,402".