Tata Teleservices (Maharashtra) Limited has received an order dated June 23, 2026, from the office of the Commissioner, CGST and Central Excise Commissionerate, Belapur. The order was passed under Section 73 of the Finance Act, 1994, and reduces a penalty originally levied on the company for alleged irregular availment of Cenvat Credit during financial years 2009-10 through 2011-12.
The penalty has been reduced from Rs 36.14 crore to Rs 7.57 crore. Tax and interest are also payable as applicable under the terms of the order. The company received the official communication on June 24, 2026, and disclosed the information to the exchanges on the same day.
Tata Teleservices (Maharashtra) has stated that it does not agree with the order. The company intends to take appropriate action and pursue legal remedies available under applicable laws to contest the order passed by the CGST authority.
The disclosure was provided to BSE and National Stock Exchange of India under Regulation 30 of the SEBI Listing Regulations read with Schedule III. The maximum financial impact from the order is to the extent of tax, interest, and penalty levied.
The alleged irregular availment of Cenvat Credit relates to periods between fiscal years 2009-10 and 2011-12. Tata Teleservices (Maharashtra) maintains its position on the credit availments made during those years and will challenge the order through appropriate legal proceedings. The company will provide further updates as the matter progresses.
Disclaimer: This article is based on company filings submitted to the Bombay Stock Exchange (BSE) and National Stock Exchange of India (NSE) and is for informational purposes only. It does not constitute investment advice or a recommendation. Investors should conduct their own research and consult a qualified financial advisor before making investment decisions.