Bajaj Finance GST Tax: DGGI issues notice to Bajaj Finance, accuses it of tax evasion of Rs 341 crore

Bajaj Finance GST Tax: The Director General of GST Intelligence (DGGI) has issued a notice to Bajaj Finance in a case of alleged tax evasion of ₹341 crore. In the notice issued on August 3, the agency investigating GST evasion 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 information has been officially given by the company in this regard. According to the report, Bajaj Finance has refused to comment on this matter.
According to calculations so far, ₹850 crores may have to be paid
According to the report, the company may have to pay 100% penalty on the alleged tax evasion of ₹ 341 crore, interest of ₹ 150 crore and daily interest of Rs 16 lakh for every day till the payment is made from June 2022 to March 2024. At present, the tax demand against Bajaj Finance can reach Rs 850 crore.
Bajaj Finance shares have given a negative return of 9.59% so far this year
Today, Bajaj Finance's stock is trading at 6,608 with a gain of 0.41%. In the last 5 days, it has seen a gain of 0.44%.
However, Bajaj Finance shares have given a negative return of 6.64% in the last 1 month, 0.83% in 6 months and 7.39% in one year. At the same time, Bajaj Finance shares have seen a decline of 9.59% so far this year.