Mumbai48 minutes ago
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The Director General of GST Intelligence (DGGI) has issued a notice to Bajaj Finance for alleged tax evasion of ₹341 crore. In the notice dated August 3, the GST evasion investigating agency has accused Bajaj Finance of wrongly showing service charges as interest charges. The company has done this to save tax.
Economics Times has given this information in one of its reports. However, no official information has been given by the company about this. According to the report, Bajaj Finance has refused to comment on this matter.
As of now, we may have to pay ₹850 crores
According to the report, the company may have to pay 100% penalty on the alleged tax evasion of ₹ 341 crore from June 2022 to March 2024, interest of ₹ 150 crore and daily interest of ₹ 16 lakh for every day till the payment is made. As of now, the tax demand for Bajaj Finance may reach ₹ 850 crore.
Bajaj Finance is the country’s largest consumer finance NBFCs
Bajaj Finance is the country’s largest consumer finance NBFCs with assets under management of ₹3.54 lakh crore. The company works in consumer finance, SMEs (small and medium-sized businesses), commercial loading and money management.
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