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Bharti Airtel received a penalty order of Rs 24.94 lakh under the Central Goods and Services Tax Act, related to alleged irregular input tax credit claims from 2017-18 to 2021-22. Airtel stated it does not agree with the order and will take suitable action for rectification or reversal, with the maximum financial impact limited to the penalty amount.
Submitting details of the orders received by the company under the Central Goods and Services Tax Act, Airtel said the order was received on December 24.
Last week, the BSE benchmark fell by 0.52 per cent after a record-breaking rally, , reliance industries, hdfc bank, tcs india, icici bank, airtel, state bank of india, life insurance corp of india
Bsnl: By contrast, Bharti Airtel's mobile user base rose to 377.78 million, and Reliance Jio's expanded to 449.21, according to the latest subscription data collated by the Telecom Regulatory Authority of India (TRAI).
Further, Vittal said that the graded and proportionate penalty regime will bring in ease of doing business and compliance while increasing the enforcement rate.
"We need to see where our customer is going, and not where our competition is going, as we are a leader. We are a tenacious competitor, but we want to show there's value on our platform, and it's not about selling a chip and engaging in a price war," Qualcomm India president Savi Soin told ET in an interview.