Bharti Airtel Group company Telesonic Networks has been fined for alleged irregularities in claiming input tax credit. Bharti Airtel said in a stock exchange filing that the office of the Assistant Commercial Tax Commissioner (Audit) in Bengaluru has passed an order under the Central Goods and Services Tax Act against a subsidiary of the company.
A fine of Rs 2,19,873 has been imposed in this. According to the information, this penalty has been imposed on the company’s subsidiary Telesonic Networks for alleged irregularities in the input tax credit claimed during the financial year 2018-19. The company received this order on March 30. “The maximum financial impact is to the extent of the penalty imposed,” the company said. The company does not agree with the order and will take appropriate action against it.
Zomato got tax notice
Zomato, a platform that provides online ordering facility, has received a tax demand notice of Rs 23.26 crore from the tax authorities. This includes interest and penalty. The company said it will challenge the order before the appropriate authority. Zomato said in a filing to BSE, “The company received a notice from the Assistant Commercial Tax Commissioner (Audit), Karnataka regarding GST (Goods and Services Tax) demand of Rs 11,27,23,564 crore for the financial year 2018-19.” Is. This amounts to Rs 23,26,64,271 with interest and penalty. We believe that our case is strong on merits and the company will appeal against the order before the appropriate authority. Will appeal.
Bank of India received income tax notice
Bank of India has received a demand notice of Rs 1,127.72 crore related to assessment year 2016-17 from the assessment unit of the Income Tax Department. The Bank has received a demand notice under Section 156 of the Income Tax Act, 1961 relating to the year 2016-17, in which certain disclaimers have been made. Bank of India said, “The Bank is in the process of filing an appeal before the Commissioner of Income Tax (Appeals), National Faceless Appeal Center (NFAC) against the said order within the prescribed time-limit. In view of the preference/orders of the appellate authorities, the Bank believes that it has sufficient factual and legal basis to justify its position in the case. The bank expects the demand to reduce. Thus, there will be no impact on the financial, operational or other activities of the bank.”
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