DRI initiates probe against Maruti Suzuki – India TV Hindi

    An investigation is being conducted into the incorrect HSN (Harmonized System of Nomenclature) code of the imported parts.- India TV Paisa
Image: File An investigation is underway regarding the incorrect HSN (Harmonized System of Nomenclature) code of the imported part.

The Directorate of Revenue Intelligence has started an investigation against the country’s largest car manufacturing company, Maruti Suzuki. The investigation is being conducted with reference to wrong HSN (Harmonized System of Nomenclature) code of imported parts. According to Bhasha News, Maruti Suzuki India on Wednesday informed the stock market that it has received a letter dated February 20, 2024 from the Hyderabad unit of the Directorate of Revenue Intelligence (DRI) regarding an inquiry.

What kind of questions arose?

According to the news, on behalf of the Directorate of Revenue Intelligence, the company said on Wednesday that an investigation has been initiated against it for wrong HSN (Harmonized System of Nomenclature) code of the imported part. According to the company, on inquiry it was found that the imported item ‘Shaft Assy Propeller’ was imported under wrong HSN code as per WCO (World Customs Organization) explanatory note. Also, IGST (Integrated Goods and Services Tax) has been levied on some motor vehicle parts at the rate of 18 percent, while the correct IGST is 28 percent.

Maruti Suzuki said – We will respond.

The company said it would file an appropriate reply. Maruti Suzuki has said that the inquiry by the Directorate of Revenue Intelligence (DRI) will not have any major impact on its financial, operational or other activities. The stock of Maruti Suzuki India today closed at Rs 11,450.0 with a marginal gain of 0.04% over the previous day. The country’s leading and fastest growing commercial vehicle range, the Maruti Suzuki Tour range has crossed the historic milestone of 5 lakh sales in India. Among the top 10 selling cars in the country, Maruti Suzuki has the most models. The company plans to further strengthen its portfolio continuously.

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