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3M India Closes the Books on a Decade-Old Tax Tangle—But What Sparked the Rs 11.1M Settlement?

Updated: July 15, 2025 16:56

Image Source : 3M India
3M India Ltd has declared the resolution of a tenyearold tax case related to the year 2010–11, opting to settle under the government's stipulated program of resolving tax litigations. The company will make a payment of Rs 11.1 million as part of the settlement, ending a tenyearold assessment.
 
Key Points:
  • The settlement involves FY 2010–11 pending tax disputes that had been under litigation for several years.
  • 3M India chose to resolve the case under the government's Vivad se Vishwas scheme to resolve pending tax cases and simplify compliance.
  • Rs 11.1 million payable is the amount of tax as per agreement, subject to waiver of interest and penalty under scheme provisions.
Strategic Context:
  • The Vivad se Vishwas scheme, which has been introduced to check judicial pendency as well as promote voluntary compliance, has seen some large corporates enroll.
  • By obtaining this resolution under this framework, 3M India minimizes the cost and uncertainty of prolonged litigation, in line with its worldwide commitment to open governance and costconsciousness.
  • The decision also reflects the company's commitment to keeping its clean compliance record in the face of changing tax norms and regulatory needs.
Investor Sentiment:
  • The analysts view the settlement as a proactive step that removes overhang of legacy and improves 3M India's financial clarity.
  • The small sum of Rs 11.1 million cannot be expected to contribute anything material to earnings or operating momentum.
Sources: Economic Times, Business Standard, Reuters India, 3M India Investor Relations

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