<p>The company emphasized that there will be no significant impact on its financial, operational, or other activities due to this investigation.</p>
The company emphasized that there will be no significant impact on its financial, operational, or other activities due to this investigation.

New Delhi: Maruti Suzuki India is under scrutiny by the Directorate of Revenue Intelligence (DRI) for using the wrong Harmonized System of Nomenclature (HSN) code for an imported component. The company revealed in a regulatory filing that it received a communication from the DRI’s Hyderabad Zonal Unit on February 20, 2024.

According to the DRI inquiry, Maruti Suzuki imported the ‘Shaft Assy Propeller’ under an incorrect HSN code, as per the World Customs Organisation’s explanatory notes. The investigation also found that Integrated Goods and Services Tax (IGST) had been paid on certain automobile parts at a rate of 18%, while the correct rate should have been 28%.

In response to the inquiry, Maruti Suzuki India stated that it will submit an appropriate reply to the DRI. The company emphasized that there will be no significant impact on its financial, operational, or other activities due to this investigation.

  • Published On Feb 21, 2024 at 03:21 PM IST

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