GTPL Hathway Limited has received an order dated September 5, 2023 from the Assistant Commissioner, Rudrapur, Uttarakhand, levying a penalty of INR 45,90,396 under Section 129 of CGST /UKGST Act, 2017 read with Section 20 of IGST Act, 2017 for alleged violation of Section 7, read with Section 25 and Schedule 1 of CGST /UKGST Act, 2017 as well as Section 31 read with rule 46 and Section 68 read with rule 138 of CGST /UKGST Act, 2017. In the above order, it is contended that the Company has supplied goods from the State of Delhi to State of Uttarakhand on a Delivery challan and Eway Bill without charging tax, instead of an invoice. The Company is studying the order and will take appropriate action as legally advised.

The financial impact of the aforesaid order is to the extent of the penalty levied.