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Bajaj Electricals gets Rs 14.08 cr demand from GST authority in Punjab

Bajaj Electricals Ltd on Friday said it has received a demand of Rs 14.08 crore from GST authority in Punjab for alleged mismatch in input tax credit (ITC) claimed by it. In a regulatory filing, Bajaj Electricals Ltd said it has received an assessment order dated February 20, 2025, from the Office of the Assistant Commissioner, Mohali, Punjab alleging liability on reverse charge mechanism, a mismatch in the input tax credit (ITC) claimed by it during FY 2020-21. "Consequently, a total demand of Rs 14.08 crore has been imposed on the company, which includes an alleged tax demand of Rs 7.45 crore, interest of Rs. 5.89 crore, and a general penalty of Rs 75 lakh," it said. The company is currently exploring various legal options and necessary steps, including filing an appeal before the relevant appellate authority, the filing said, adding there is no impact on financial operations or any other activities due to this.

Bajaj Electricals gets Rs 14.08 cr demand from GST authority in Punjab
Updated On : 21 Feb 2025 | 2:21 PM IST

Bajaj Group likely to make an investment of Rs 10,000 cr for hospital chain

Bajaj's move coincides with growth in Indian health care as the nation's wealth and insurance coverage increases and the number of people reaching retirement age accelerates

Bajaj Group likely to make an investment of Rs 10,000 cr for hospital chain
Updated On : 11 Feb 2025 | 11:20 AM IST

Bajaj Auto to take 'legal action' after it gets over Rs 10 cr GST penalty

Bajaj Auto Ltd on Friday said it has been imposed penalty and interest of over Rs 10 crore by the tax authority in a matter related to differential GST on classification of instruments cluster and will legally challenge it. The Joint Commissioner, Central GST, Pune -- II Commissionerate passed an order confirming classification of instruments cluster under HSN code 8708/8714 for the period July 2017 to March 2022, as against classification of 9029 adopted by the company, Bajaj Auto said in a regulatory filing. "The order has confirmed demand of differential GST amounting to Rs 10,03,91,402. The Joint Commissioner has appropriated and adjusted the said demand against the tax deposited by the company," it said. Bajaj Auto further said, "the order has also confirmed applicable interest and equivalent penalty of Rs 10,03,91,402 and general penalty of Rs 25,000, resulting in an overall penalty of Rs 10,04,16,402." The company said it "believes that the order passed by the Joint ...

Bajaj Auto to take 'legal action' after it gets over Rs 10 cr GST penalty
Updated On : 31 Jan 2025 | 2:34 PM IST

Bajaj Chetak 35 series scooter launched in India; view features and more

Bajaj Chetak EV launch: With the release of an improved electric scooter line, Bajaj Auto is set to achieve yet another significant milestone for the iconic Chetak scooter with its brand-new series

Bajaj Chetak 35 series scooter launched in India; view features and more
Updated On : 20 Dec 2024 | 4:05 PM IST

We should double in size in 5 years, says Bajaj Finance MD Rajeev Jain

We have unveiled our AI technology transformation strategy. And we have, in general, as a firm, been huge beneficiaries of using technology early, Rajeev Jain said

We should double in size in 5 years, says Bajaj Finance MD Rajeev Jain
Updated On : 12 Dec 2024 | 11:30 PM IST

Bajaj Auto posts 5% growth in total vehicle sales at 421,640 units in Nov

Bajaj Auto Ltd on Monday reported a 5 per cent on-year growth in total vehicle sales, including exports, at 4,21,640 units in November. The Pune-based automaker had sold 4,03,003 units in November 2023, according to a company statement. Total domestic sales (including commercial vehicles) declined 7 per cent at 2,40,854 units in the previous month, as compared to 2,57,744 units sold in the same month last year. Total exports during the month under review rose 24 per cent at 1,80,786 units, from 1,45,259 vehicles shipped out to overseas markets in November 2023, according to the statement. The total two-wheeler volume (domestic and exports) in November 2024 stood at 3,68,076 units, an increase of 5 cent over 3,49,048 units sold in the same month of last year, Bajaj Auto said. Domestic two-wheeler sales declined 7 per cent to 2,03,611 units, from 2,18,597 units in November 2023. The two-wheeler exports logged a 26 per cent year-on-year growth at 1,64,465 vehicles in November, as ..

Bajaj Auto posts 5% growth in total vehicle sales at 421,640 units in Nov
Updated On : 02 Dec 2024 | 10:37 AM IST

Startups are like upstarts, they end up burning strategy: Rajiv Bajaj

The biggest difference between established brands and many startups and is while the former build strategy, brand, and technology, the latter are more like upstarts that end up burning the same things, Bajaj Auto Managing Director Rajiv Bajaj said on Thursday. "There are three terminologies here. Startup; then there is a word which I like to call most of them, which is upstart. Then us, the winners or the champions," Bajaj said while speaking at the CNBCTV18 Global Leadership Summit here. He said those who enter a market without a strategy are "upstarts" and end up burning everything -- from their brand and technology to products. "Upstarts are those who don't have a build-strategy. They have a burn strategy. They burn technology -- their batteries. They burn brands by reducing price every month. They burn products in their factory, in the trucks, at the dealerships, on the road," he said. On the contrary, he said, "startups are those who have built a strategy. They build technolog

Startups are like upstarts, they end up burning strategy: Rajiv Bajaj
Updated On : 14 Nov 2024 | 10:44 PM IST

Bajaj Finserv Q2 net profit rises 8% to Rs 2,087 cr; interest income jumps

Revenue increased by 30% to Rs 33,704 cr, says holding company of Bajaj group's financial services and insurance businesses

Bajaj Finserv Q2 net profit rises 8% to Rs 2,087 cr; interest income jumps
Updated On : 23 Oct 2024 | 3:18 PM IST

Allianz actively considering exiting insurance JVs: Bajaj Finserv

Allianz's stake in both the life and general insurance companies is pegged at Rs 30,000 crore, according to Emkay report

Allianz actively considering exiting insurance JVs: Bajaj Finserv
Updated On : 22 Oct 2024 | 11:17 PM IST

Bajaj Auto Q2 results: Profit dips 31% to Rs 1,385 cr, revenue at Rs 13k cr

The domestic business achieved record-high revenue growth in double digits for the tenth consecutive quarter, driven by growth across motorcycles, commercial vehicles, and electric scooters

Bajaj Auto Q2 results: Profit dips 31% to Rs 1,385 cr, revenue at Rs 13k cr
Updated On : 16 Oct 2024 | 10:59 PM IST

Bajaj Steel hits 52-week high as board approves 3:1 bonus share issue

Bajaj Steel will allot three shares of Rs 5 face value each to shareholders for every one existing share they hold

Bajaj Steel hits 52-week high as board approves 3:1 bonus share issue
Updated On : 03 Oct 2024 | 1:45 PM IST

Need to hike provision for deferred tax by Rs 211 cr, says Bajaj Auto

Bajaj Auto Ltd on Monday said it will need to increase its provision for deferred tax by Rs 211 crore due to the withdrawal of indexation benefit and change in the tax rate on long-term capital gains on debt mutual fund. The company invests its surplus funds into a range of asset classes, including debt mutual funds. It was making accounting provisions for deferred tax as per applicable law on fair value gains on these investments, Bajaj Auto said in a regulatory filing. A one-time impact will be made while computing the profit after tax, and reporting the financial results for Q2 of FY25, it added. Bajaj Auto said the Finance (No 2) Act 2024 withdraws the indexation benefit on long-term capital gains on debt mutual funds purchased before 1 April 2023. "Further, the tax rate with respect to long-term capital gains for the said asset class has been changed from 20 per cent plus surcharge and cess (with indexation) to 12.5 per cent plus surcharge and cess (without indexation)," it ..

Need to hike provision for deferred tax by Rs 211 cr, says Bajaj Auto
Updated On : 19 Aug 2024 | 10:48 PM IST

How 2W market incumbents Bajaj and TVS are flexing their electric muscle

Bajaj and TVS appear to have picked up the gauntlet, taking on Ola in the sub-Rs 1 lakh e2W market - a segment they had kept away from and where Ola reigned supreme

How 2W market incumbents Bajaj and TVS are flexing their electric muscle
Updated On : 08 Aug 2024 | 3:00 PM IST

Bajaj Electricals Q1FY25 results: Net profit falls 25% to Rs 28.1 cr

Bajaj Electricals results fall short of expectations in first-quarter, hurt by dampened demand for kitchen appliances and price erosion in key lighting segment

Bajaj Electricals Q1FY25 results: Net profit falls 25% to Rs 28.1 cr
Updated On : 06 Aug 2024 | 3:59 PM IST

Leadership rejig may be on cards for Bajaj Auto, hints MD Rajiv Bajaj

Addressing shareholders at Bajaj Auto's 17th Annual General Meeting in Pune on Tuesday, Rajiv Bajaj highlighted that the automobile manufacturer needs a younger Managing Director

Leadership rejig may be on cards for Bajaj Auto, hints MD Rajiv Bajaj
Updated On : 17 Jul 2024 | 9:44 AM IST

Affordable models take Bajaj, TVS closer to Ola Electric in e2W market

In July, their combined share surges past Ola's

Affordable models take Bajaj, TVS closer to Ola Electric in e2W market
Updated On : 13 Jul 2024 | 11:23 AM IST

After launch of Bajaj Freedom 125, TVS may roll out its own CNG bike

The CNG fuel option in the commuter segment offers a reduced fuel bill for the consumer

After launch of Bajaj Freedom 125, TVS may roll out its own CNG bike
Updated On : 10 Jul 2024 | 11:52 PM IST

Can Bajaj's CNG bike Freedom 125 revolutionise the two-wheeler market?

Can Bajaj's CNG bike disrupt the 12 million units a year motorcycle market?

Can Bajaj's CNG bike Freedom 125 revolutionise the two-wheeler market?
Updated On : 10 Jul 2024 | 11:01 PM IST

Bajaj Auto set to launch world's first CNG bike 'Freedom 125' on Friday

The bike is likely to have flexible fuel options and will feature two separate switches for petrol and CNG

Bajaj Auto set to launch world's first CNG bike 'Freedom 125' on Friday
Updated On : 04 Jul 2024 | 10:12 PM IST

Bajaj Allianz Life launches Nifty Alpha 50 Index Fund: Check details

The fund aims to provide capital appreciation by investing in equities that are part of the Nifty Alpha 50 Index

Bajaj Allianz Life launches Nifty Alpha 50 Index Fund: Check details
Updated On : 03 Jul 2024 | 1:46 PM IST