Bosch receives over Rs 20 crore tax demand notice from Income Tax dept

New Delhi, Mar 31, 2025

"In process of filing an appeal," the company said in a regulatory filing

Germany-based technology and services firm Bosch Limited, on Monday, said it had received a tax demand of more than Rs 20 crore from the Income Tax (I-T) department for the assessment year (AY) 2022-2023.

In a stock exchange filing, the company said the assessment order dated March 28, raised a demand of Rs 18.36 crore along with interest of Rs 1.80 crore.

The order was issued by the assessment unit of the I-T department.

“The company is in the process of preferring an appeal. No quantification of penalty has been passed,” Bosch said.

According to the regulatory filing, the delay in paying the tax "is inadvertant and is swiftly reported, once it was brought to the notice."

Last year in September 2024, German carmaker Volkswagen's Skoda Auto Volkswagen India unit was issued a $1.4 billion tax notice and the officials alleged that the company misclassified its imports to pay lower customs duties. However, the company denied any wrongdoing saying that it had been transparent about its import model.

According to media reports, in February, Volkswagen filed a lawsuit against Indian authorities, seeking to cancel a $1.4 billion tax demand, calling it "impossibly enormous" and contradictory to India’s import tax rules.

[The Business Standard]