JSW Group presses Volkswagen over $1.4 billion India tax bill
Business
JSW Group is pushing Volkswagen to pay a hefty $1.4 billion tax bill as part of their talks for a joint venture in India, a move that could shape VW's future here.
Both sides have agreed on some basic terms, but the final details and valuation are still being worked out.
Volkswagen denies misclassifying imported car kits
The tax issue comes from Indian authorities claiming VW misclassified imported car kits, which VW denies. VW has even taken the fight to court in Mumbai.
Meanwhile, JSW is eyeing a majority stake and wants things settled quickly, but this unresolved tax mess is making negotiations tricky.
Both companies are hoping to seal the deal by December 2026, though neither has commented immediately on the request for comment.