Maruti Suzuki India Limited has received an adjudication order from the Haryana GST Authority, resulting in a significant tax demand of Rs. 384.17 million. The company disclosed this development to stock exchanges on 31st March 2026 under Regulation 30 of SEBI Listing Regulations.

GST Adjudication Order Details

The adjudication order from the Haryana GST Department covers the period from April 2019 to March 2024 and pertains to GST liability on account of Tax Credit Notes. The order confirms a comprehensive financial impact on the company through multiple components.

Financial Impact Breakdown

The total financial exposure from this adjudication order extends beyond the primary tax demand. The company faces multiple financial obligations as outlined in the order.

Company's Response and Next Steps

Maruti Suzuki India Limited has indicated its intention to challenge the adjudication order through the appropriate legal channels. The company plans to file an appeal against the order to the first appellate authority, demonstrating its disagreement with the GST department's findings.

Despite the substantial financial demand, the company has assessed that there is no major impact on its financial, operational or other activities due to this order. This disclosure was made to both the National Stock Exchange of India Limited and BSE Limited as part of the company's regulatory compliance obligations.

Regulatory Compliance

The disclosure was made under Regulation 30 of SEBI Listing Obligations and Disclosure Requirements Regulations, 2015, which mandates listed companies to inform stock exchanges about material events that could impact their operations or financial position.

Maruti Suzuki India Limited has updated stock exchanges regarding the latest proceedings in its ongoing National Company Law Appellate Tribunal (NCLAT) case. The hearing, which took place on March 25, 2026, saw further arguments presented before the tribunal, with the matter now scheduled for continuation on April 24, 2026.

Case Background and Timeline

The legal proceedings stem from a Competition Commission of India (CCI) order dated August 23, 2021, against the company. The NCLAT granted an interim stay on this CCI order through its ruling on November 22, 2021. Since then, the case has progressed through multiple stages, including the submission of written statements by both Maruti Suzuki and the CCI in May 2022.

Recent Hearing Developments

The March 25, 2026 hearing marked a continuation of arguments in the case. According to the company's disclosure, the tribunal heard further arguments from the parties involved. The proceedings have been adjourned to April 24, 2026, where additional arguments are expected to be presented.

Extensive Legal Journey

The case has witnessed numerous adjournments since its inception, reflecting the complex nature of the legal proceedings. The matter has been scheduled for hearing on multiple occasions throughout 2022, 2023, 2024, 2025, and now 2026. Key milestones include the commencement of arguments in February 2024 and their resumption in November 2025.

Regulatory Compliance

Maruti Suzuki has maintained consistent disclosure practices throughout the legal proceedings, filing regular updates under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company's Executive Officer and Company Secretary, Sanjeev Grover, signed the latest disclosure on March 25, 2026.

Current Status

The case remains under active consideration by the NCLAT, with the interim stay on the CCI's August 2021 order continuing to remain in effect. The next hearing is scheduled for April 24, 2026, where the tribunal is expected to hear further arguments from both parties before potentially reaching a conclusion on the matter.