Latest News | Airtel Arm Penalised for Alleged Irregularity in Claiming Input Tax Credit: Filing

New Delhi, Mar 31 (PTI) Bharti Airtel Group firm Telesonic Networks has been penalised for alleged irregularity in claiming input tax credit, according to a regulatory filing.

Bharti Airtel informed stock exchanges that the office of the Assistant Commissioner of Commercial Taxes (Audit) in Bengaluru has passed an order under the Central Goods and Services Tax Act against a subsidiary of the company, levying a penalty of Rs 2,19,873.

Also Read | New Income Tax Rules From April 1: From Changes in Tax Slabs to Deductions and More, All You Need to Know.

According to the filing, the penalty has been levied for "alleged irregular input tax credit claimed during the financial year 2018-19" on the company's subsidiary Telesonic Networks. The company received the order on March 30.

"The maximum financial impact is to the extent of the penalty levied. The company does not agree with the order and will take appropriate action(s) for the same," the filing noted.

Also Read | Where Is Katchatheevu Located? Can Indians Go There? All You Need to Know About the Disputed Island That Indira Gandhi Ceded to Sri Lanka in 1974.

(This is an unedited and auto-generated story from Syndicated News feed, LatestLY Staff may not have modified or edited the content body)