Maruti Suzuki India Limited Receives ?5,786 Crore Tax Notice, Plans to Challenge Order

### Maruti Suzuki India Limited Receives ?5,786 Crore Tax Notice, Plans to Challenge Order

New Delhi, March 17 — Maruti Suzuki India Limited on Tuesday confirmed that it has received a draft assessment order from the Income Tax Department involving a proposed tax demand of ?5,786 crore.

The company, however, reassured stakeholders that the development will not impact its financial stability or day-to-day operations.

In a regulatory filing, the country’s largest carmaker stated that it will formally contest the order by submitting objections before the Dispute Resolution Panel, as part of the prescribed legal process.

The notice relates to the financial year 2022–23, during which tax authorities have proposed additions and disallowances totaling ?57,864 million to the company’s declared income. In simple terms, the authorities have suggested revisions to the income originally reported by the company in its tax return, which has led to the substantial tax demand.

Despite the sizeable figure, investor confidence appeared unaffected. Shares of Maruti Suzuki were trading at ?12,986, marking a gain of 1.82 per cent during the session.

On the financial front, the company highlighted steady performance. In its unaudited third-quarter results, it reported total tax expenses of ?10,360 million, revenue of ?667,769 million, and a profit after tax (PAT) of ?37,940 million.

Operationally, Maruti Suzuki continues to maintain growth momentum. During the first nine months of FY26, it sold 1,435,945 vehicles, reflecting a year-on-year growth of 3.9 per cent. The sales were driven by a broad portfolio spanning entry-level cars, compact models, mid-size vehicles, and utility vehicles.

Looking ahead, the company remains cautiously optimistic. Senior executive Rahul Bharti had earlier indicated that the fourth quarter is likely to remain positive. He also projected an initial industry growth estimate of around 7 per cent, though this outlook may be revised as market conditions evolve.

Overall, while the tax notice is significant in size, the company’s response and market reaction suggest confidence in its ability to manage the situation through legal channels.