Tata Teleservices Penalty Reduced to ₹7.57 Cr

Tata Teleservices (Maharashtra) Ltd has received an order from the Commissioner, CGST & Central Excise Commissionerate, Belapur, under Section 73 of the Finance Act, 1994. The order reduces a penalty from ₹36,14,39,671 to ₹7,57,41,389, along with applicable tax and interest. The penalty pertains to alleged irregular availment of Cenvat Credit during FY 2009-10 to 2011-12. The company disagrees with the order and plans to take appropriate action.