L&T Finance Limited announced the orders levying penalty, by Department of Goods & Service Tax, on the company. Name of the Authority: Department of Goods & Service Tax, Government of Maharashtra. Nature and details of the action(s) taken initiated, or order(s) passed: A penalty of INR 7,613,247 has been levied under Section 73 of the Central Goods and Service Tax Act, 2017.

Date of receipt of direction or order, including any ad-interim or interim orders, or any other communication from the authority: April 19, 2024. Details of the violation(s)/contravention(s) committed or alleged to be committed: 1. Excess outward tax in GSTR 9 as compared to GSTR3B; Excess claim of ITC /ITC on Registration Cancelled Suppliers /Non-Filers; Claim of blocked credit as per Section 17(5) of the Central Goods and Service Tax Act, 2017; Non-payment of GST under reverse charge mechanism; Credit Note difference (GSTR1 vs GSTR9).