Airtel Arm Penalised For Alleged Irregularity In Claiming Input Tax Credit
Airtel subsidiary Telesonic Networks has been penalised for alleged irregularity in claiming input tax credit.
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.
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.