TVS Srichakra fined ₹10.71 Lakhs by GST Dept

TVS Srichakra Limited has received an order from the State Tax Officer, Rudrapur, Uttarakhand, imposing a penalty of ₹10.71 Lakhs. The penalty was levied because a vehicle transporting goods was found to be moving without a valid e-Way Bill at the time of inspection. The e-Way Bill generated by the supplier was subsequently rejected/cancelled by the recipient due to an inadvertent error. The company is evaluating legal remedies, including filing an appeal, but does not expect a material impact on its operations.