Maruti Suzuki India Receives Rs 149.64 million Income Tax Penalty Order for FY23, Says Financial Impact Likely to Be Insignificant:

Maruti Suzuki India Limited has informed the stock exchanges that its subsidiary, Suzuki Motor Gujarat Private Limited, which has now been merged with the company, has received a penalty order from the Income Tax Department.

The company said it received the order on September 29, 2026. The penalty amounts to Rs 149.64 million, under Section 270A of the Income-tax Act, 1961, for the financial year 2022-23.

According to Maruti Suzuki, the penalty relates to certain additions and disallowances made in the final tax assessment. The company said these matters are already under challenge before appellate authorities.

Maruti Suzuki said it will file an appeal against the penalty order.

The automaker also clarified that the penalty order is not expected to have any major impact on its financial position, operations or other activities.