Reliance Industries Limited announced receiving an order imposing a penalty of ₹15,38,402 from the Assistant Commissioner of State Tax, Junagadh. The penalty stems from allegations regarding the incorrect availment of input tax credit under the GST laws for 2017. The company stated that the order has no impact on its operations, and it intends to formally file an appeal against the imposed penalty.
Regulatory Disclosure by Reliance Industries
Reliance Industries Limited formally disclosed the receipt of an order dated March 30, 2026, from the Assistant Commissioner of State Tax, Junagadh. This disclosure was made to the stock exchanges on March 31, 2026, in compliance with applicable regulations.
Details of the Penalty Order
The order imposes a financial penalty amounting to Rs. 15,38,402. This levy is reportedly based on allegations concerning the incorrect availment of input tax credit by the Company. The legal basis cited includes Section 74 of the Gujarat Goods and Services Tax, 2017, alongside the Central and Integrated Goods and Services Tax Acts of 2017.
Company Response and Impact Assessment
Reliance Industries confirmed that the intimation regarding this order was first received via email on March 30, 2026, at 1:52 p.m. (IST). Crucially, the Company has stated its intention to file an appeal against the order passed by the tax authority. Financially, the impact is strictly limited to the extent of the penalty levied. The announcement further clarifies that there is no impact on the operations or other business activities of the Company resulting from this Order.
Source: BSE
