Joint Commissioner of State Tax (Bihar) has passed an order levying penalty of ₹ 4,52,62,486/- on Indus Towers Limited alleging disallowance of Input Tax Credit on towers u/s 17(5) of GST Act 2017, according to the Company’s regulatory filing.
The Company before the exchange has submitted that the matter is already been decided by the Supreme Court. The Company is likely to challenge the order before an appropriate authority. “Company disagrees with the allegation and will challenge the order at the appropriate forum and there is no material impact of the same on financials, operations or other activities of the Company,” Company said in their regulatory filing.
The disclosure before the exchange was made under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
The Company received the order on February 26, 2025.
Source #ET
