Suzlon Energy Limited has been penalized ₹4,158 by the Office of the Commissioner of Indirect Taxes & Customs, Hyderabad, for short reversal of input tax credit under Section 74 of the CGST Act, 2017, the company informed stock exchanges on Wednesday.
The shares of Suzlon Energy Limited were trading flat at ₹69.07 on the NSE today at 11.40 am.
The wind energy major received the penalty order on October 22, 2024, following an audit observation by the Superintendent - SAG41, Audit-1, Hyderabad, Telangana. The company stated that the penalty amount is nominal and there is no material impact on its financial operations or other activities.