Increase in Tax Payment by Maruti Suzuki India
Maruti Suzuki has witnessed an increase of 20.34 percent to rupees 5,461.3 crore in its tax payment to the government in financial year 2009-10, as compared to the tax payment in past financial year. Maruti Suzuki company said in its Sustainability Information for the last fiscal, "Driven by large volume growth during the year 2009-10, the company's gross contribution to the National Exchequer (via duties and taxes) stood at Rs 5,461.3 crore in 2009-10, as compared to Rs 4,538.2 crore in 2008-09." According to Mr. S Nakanishi, Managing Director at MSI, "The year 2009-10 was a landmark year for Maruti Suzuki and the Indian commuter vehicle industry.
Maruti Suzuki became the first company in India to sell and make a million cars in a year." The net sales of the company during the financial jumped by 42.2 percent to Rs 28,958.5 crore as compared to previous monetary year. The increment after tax also surged by 105% cent to Rs 2,497.6 crore during this period. MSI's expenditure towards employees' wages surged by 15.8 per cent to Rs 545.6 crore in the fiscal from Rs 471.1 crore in 2008-09.