Gurugram, February 26, 2025 – Indus Towers Limited has disclosed a penalty order received from the Excise and Taxation Officer (Gurgaon) under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The penalty amounts to ₹14,30,366, imposed due to an alleged short reversal of Input Tax Credit (ITC) under Rule 42/43 of the CGST Rules.
Key Details of the Regulatory Action:
- Regulatory Authority: Excise and Taxation Officer, Gurgaon
- Nature of Violation: Short reversal of ITC under Rule 42/43 of CGST Rules
- Penalty Amount: ₹14,30,366
- Date of Order Receipt: February 25, 2025
- Company’s Response: Indus Towers disagrees with the allegation and plans to challenge the order before the Appellate Authority.
Impact on Financials & Operations
Indus Towers has clarified that the penalty does not have a material impact on its financial, operational, or other activities.This development comes as part of the company’s compliance disclosures in accordance with SEBI’s guidelines. Investors and stakeholders will be keenly watching for further updates on the company’s appeal against the penalty.