The L&T Finance Limited has been penalised Rs. 28 Lakh under Section 73 of the Central Goods and Service Tax Act, 2017 by the Deputy Commissioner of State Tax, Special Circle, Patna, Bihar, according to the exchange filling.
The penalty is levied on the violations pertaining to excess claim of Input Tax Credit; turnover related adjustments in GSTR9 and erroneous additions on reverse charge liability and other expenses
The company will be contesting the order in higher appellate forums.
Disclosure of the material information is mandatory under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
