GST order imposes Rs 51.5 lakh penalty on ABFRL, company to appeal
ABFRL · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Assistant Commissioner of Sales Tax, Nagole GST Division, Hyderabad issued an order on July 24, 2026 under Section 74 of the CGST Act, 2017, imposing a penalty of Rs 51,52,528 on ABFRL. The dispute relates to input tax credit claims for FY 2020-21, specifically ISD ITC availed and vendor defaults in non-filing of returns. The company notes that the tax was already reversed and parallel proceedings exist. ABFRL states there is no material impact on financials or operations and intends to file an appeal before the Appellate Authority.
Penalty is small relative to company size. Management confident demand is not tenable and will appeal. No expected operational disruption.