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An update from Bajaj Finance Limited ( (IN:BAJFINANCE) ) is now available.
Bajaj Finance Limited has announced the receipt of a significant order from the Joint Commissioner of Central Tax, Pune-II, concerning a GST demand related to upfront interest collected from customers, which has been classified as a fee. The demand, impacting the period from July 2017 to March 2024, totals Rs 341.28 crore in GST, Rs 180.59 crore in interest liabilities, and an additional Rs 341.28 crore in penalties. Bajaj Finance is planning to appeal this order, asserting that the demand is not viable based on expert tax opinions.
More about Bajaj Finance Limited
Bajaj Finance Limited operates in the financial services industry, primarily offering consumer loans for purchasing consumer durable goods. The company collaborates with various manufacturers and dealers to provide loans at concessional rates, receiving interest subsidies from these partners.
YTD Price Performance: 7.25%
Average Trading Volume: 30,912
Current Market Cap: 4608.2B INR
See more insights into BAJFINANCE stock on TipRanks’ Stock Analysis page.