Larsen & Toubro Limited has received an order from the tax authorities under section 74 of the Central Goods and Services Tax Act, 2017, according to an exchange filing.
The tax authorities has levied penalty of ₹ 42,52,288/- disallowing transitional credit claimed.
The company is likely to file an appeal before the appellate authority. “The Company does not agree with this levy and would be filing an appeal against this order and expects a favourable outcome at the higher forum,” Larsen & Toubro said in an exchange filing.
The disclosure was made under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
