Pune-based Zensar Technologies has been served a Rs 1.76 crore tax penalty, according to an exchange filing on Thursday.
The penalty was imposed due to inconsistencies in service tax returns, the company said in the filing.
Zensar Tech is part of the $4.8-billion RPG Group conglomerate, with a total services revenue of $591.3 million as on March 2024.
The US is its largest market, accounting for 67.2% of the revenue share. The company said the penalty will have no material impact on its financials, operation or other activities.
In July, last year, Zensar Technologies had acquired a 100% membership interest in US-based BridgeView Life Sciences, through its wholly owned subsidiary Zensar Technologies Inc, for a total consideration of $25 million.
Source #ET
