Bharti Airtel will seek a reversal and rectification of an order received under the Central Goods and Services Tax (CGST) Act for a levy of Rs 2.49 million penalty.
In a regulator filing with the Bombay Stock Exchange, Airtel stated that the violation pertains to alleged irregular input tax credit claims from 2017-18 to 2021-22 and other related matters. Submitting details of the orders received by the company under the CGST Act, Airtel said that the order was received on December 24, 2023.
As per the filing, the order entails a levy of a penalty of Rs 24,94,316. Airtel stated that it does not agree with the order and will take appropriate action for rectification/reversal of the same. The maximum financial impact is to the extent of the penalty levied.
