New Delhi, February 3, 2025 – Bharti Hexacom Limited (NSE: BHARTIHEXA, BSE: 544162) has disclosed receiving an order from the Office of the Superintendent, CGST Range-XXV, Jaipur, imposing a penalty of ₹17,21,020 under Section 122(2)(b) of the CGST Act, 2017.
Regulatory Action Details
The penalty relates to alleged irregular input tax credit claims spanning the financial years 2017-18 to 2022-23. The company received the official communication on February 3, 2025, at 17:18 hours.Impact & Corporate Response
Bharti Hexacom stated that the maximum financial impact is limited to the penalty amount. However, the company disagrees with the order and has indicated that it will undertake appropriate actions to seek rectification or reversal.Strategic Implications
While the penalty amount is not significant relative to Bharti Hexacom's financial scale, regulatory scrutiny over tax compliance could impact operational efficiencies. Investors may seek further clarification on the company’s tax policies and any potential future liabilities.Bharti Hexacom has not yet specified whether it will challenge the order through an appellate process or settlement discussions.