Maruti Suzuki India on Wednesday stated the Directorate of Income Intelligence has initiated an inquiry towards it over incorrect HSN (Harmonized System of Nomenclature) code of an imported part. In a regulatory submitting, Maruti Suzuki India stated it has acquired a communication relating to the inquiry from the Directorate of Income Intelligence (DRI), Hyderabad Zonal Unit, on February 20, 2024.
“As per DRI inquiry, the imported good ‘Shaft Assy Propeller’ is imported underneath incorrect HSN code as per explanatory notes of WCO (World Customs Organisation). Additionally, IGST (Built-in Items and Providers Tax) has been paid on few vehicle components on the price of 18 per cent whereas the proper IGST is 28 per cent…,” the corporate stated.
The corporate will file an appropriate reply to DRI, the submitting stated including, that there isn’t a main impression on monetary, operation, or different actions because of this inquiry.
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