Penalties imposed on Airtel arm for suspected irregularities in input tax credit claims: Registering

According to a regulatory filing, Telesonic Networks, a company within the Bharti Airtel Group, has been penalized for allegedly claiming input tax credit irregularly.

Bharti Airtel notified stock exchanges that a Central Goods and Services Tax Act order had been issued against one of the company’s subsidiaries, imposing a penalty of Rs 2,19,873, by the Bengaluru office of the Assistant Commissioner of Commercial Taxes (Audit).

The statement states that Telesonic Networks, a subsidiary of the corporation, is the target of the penalty due to “alleged irregular input tax credit claimed during the financial year 2018-19”.

The order was received by the corporation on March 30.

“The amount of the fine imposed has the greatest financial effect. The petition said that “the company does not agree with the order and will take appropriate action(s) for the same.”