Gurugram, India – January 31, 2025 – Bharti Airtel Limited (NSE: BHARTIARTL, BSE: 532454) has disclosed a penalty order issued under the Central Goods and Services Tax (CGST) Act, 2017. The company received an order from the Office of The Commissioner of Central Tax, Central Excise and Service Tax, Secunderabad GST Commissionerate, Hyderabad, imposing a penalty of ₹8,31,36,432.
Key Details of the Order
| Particulars | Details |
|---|---|
| Issuing Authority | Office of The Commissioner of Central Tax, Central Excise and Service Tax, Hyderabad |
| Nature of Order | Penalty under Section 74 of CGST Act, 2017 |
| Amount | ₹8.31 crore |
| Reason for Penalty | Alleged irregular input tax credit claimed during FY 2017-18 to 2019-20 |
| Date of Receipt | January 31, 2025, at 15:43 IST |
Company's Response
Bharti Airtel has disagreed with the order and intends to take appropriate legal action to contest it. The company also clarified that the penalty does not have any material impact on its financial or operational performance.Investor Impact
While the penalty amount is significant, Bharti Airtel maintains that this development does not pose a material risk to its business. Investors are likely to monitor any further legal proceedings closely.This disclosure follows SEBI’s Listing Obligations and Disclosure Requirements (LODR) Regulations, under which listed entities must inform stock exchanges of any regulatory penalties.
For official communication, Bharti Airtel’s Joint Company Secretary & Compliance Officer, Rohit Krishan Puri, submitted the disclosure to BSE and NSE.
Looking Ahead
Bharti Airtel is expected to file an appeal against the GST order. The outcome of this legal process will determine if the penalty stands or gets overturned.Investors and stakeholders should stay tuned for further updates on regulatory proceedings and Bharti Airtel’s legal course of action.