Bharti Airtel has been asked to pay a penalty of Rs 31,55,644.80 for the mismatch of input tax credit, the company announced through an exchange filing. The fine was levied by the joint commissioner, corporate circle, Lucknow.
The order for the fine was passed under the Central Goods and Service Tax, 2017. The mismatch in the input tax credit was availed in GSTRR-3B vis-a-vis GSTR-2A for FY 2018-19.
The company in the regulatory filing said that it will challenge the order sent by the appellate forum. It also added that the fine will have no material impact on the financial. operations or other activities of the company.
The order was received by the company on October 10, 2023 at 6:05 pm IST.
Bharti Airtel shares
The shares of Airtel on Wednesday afternoon at 2:40 pm IST were trading at Rs 955.75, up by 0.78 per cent.