Mphasis Reports GST Penalty Order from Karnataka Tax Authority

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Penalty Order Received

Mphasis Ltd received an order from the Karnataka Goods and Services Tax department imposing a GST penalty of ₹32,90,801 under Section 73(9)

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Alleged Issues Listed

The order mentions issues like non-remittance of GST, non-realisation of foreign remittance, and incorrect input tax credit claims

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Company Response

Mphasis said it disagrees with the order and plans to contest it legally, believing it has strong grounds

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No Expected Financial or Operational Impact

The company clarified that the GST demand is not expected to affect its financials or operations materially

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Mphasis Reports GST Penalty Order from Karnataka Tax Authority

Penalty Order Received Mphasis Ltd received an order from the Karnataka Goods and Services Tax department imposing a GST penalty of ₹32,90,801 under Section 73(9)

Alleged Issues Listed The order mentions issues like non-remittance of GST, non-realisation of foreign remittance, and incorrect input tax credit claims

Company ResponseMphasis said it disagrees with the order and plans to contest it legally, believing it has strong grounds

No Expected Financial or Operational ImpactThe company clarified that the GST demand is not expected to affect its financials or operations materially

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Penalty Order Received

Mphasis Ltd received an order from the Karnataka Goods and Services Tax department imposing a GST penalty of ₹32,90,801 under Section 73(9)

Alleged Issues Listed

The order mentions issues like non-remittance of GST, non-realisation of foreign remittance, and incorrect input tax credit claims

Company Response

Mphasis said it disagrees with the order and plans to contest it legally, believing it has strong grounds

No Expected Financial or Operational Impact

The company clarified that the GST demand is not expected to affect its financials or operations materially