Tech Mahindra Limited has received an order from the Assistant Commissioner of State Tax, Bhubaneswar III Circle: Bhubaneswar: Odisha, State/UT: Odisha imposing a penalty under Section 73 of CGST Act, 2017 amounting to INR 217,278, for financial year 2018-19. The penalty has been imposed for the financial year 2018-19 under Section 73 of CGST Act, 2017 inter alia, alleging non-filing of GST returns by suppliers, cancellation of GSTIN of suppliers and excess claim of input tax credit. Based on the Company's assessment, an appeal will be filed, and the Company is hopeful of a favorable outcome at the appellate level and does not expect the said Order to have any material financial impact on the Company.
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