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Maruti Suzuki said that it planned to challenge the October 3 order and that business would not be affected by it.
The I-T depatment had contended that Netflix Entertainment Services (India) LLP acted as a dependent agent permanent establishment (DAPE) of Netflix. Total revenue generated by the company’s operations between April 2020 and December 2020 was above Rs 1,145 crore. Of this, Rs 1,008 crore was profit, of which attribution to Indian operations was calculated at Rs 503 crore.
Maruti Suzuki India will file its objections before the Dispute Resolution Panel.
This decision comes in response to the substantial Rs 196-crore tax demand asserted by the Income Tax department.
Leading carmaker Maruti Suzuki India Limited has received a Draft Assessment Order for Rs 2,159.70 crore from the Income Tax Authority, the company told the BSE on Tuesday.The draft assessment order dated October 3 is for the financial year ...