Mphasis Limited Ordered to Pay Penalty of Rs. 1,941,007 by Tax Authority
Mphasis Limited reported receiving an order from the Office of the Joint Commissioner of Commercial Taxes (Appeals-5), Koramangala, Bengaluru, imposing a penalty on the company.The penalty was issued by the Joint Commissioner of Commercial Taxes (Appeals-5) under Section 73(9) of the Karnataka Goods and Services Tax Act, 2017. The order, received on May 5, 2026, pertains to several compliance issues.
The authorities determined the penalty following violations related to the late reversal of input tax credit under Rule 42 of the Central Goods and Services Tax Act, 2017, the non-submission of a special economic zone endorsement, and the determination of place of supply for an export transaction.
Key details of the order are summarized below:
| Particulars | Details |
|---|---|
| Authority Issuing Order | The Joint Commissioner of Commercial Taxes (Appeals- 5), Koramangala, Bengaluru |
| Order Type | Penalty imposing Rs. 1,941,007 |
| Legal Basis | Section 73(9) of the Karnataka Goods and Services Tax Act, 2017 |
| Date of Order Receipt | May 5, 2026 |
| Reported Impact | No impact on financial, operation or other activities of the Company |
MPHASIS Stock Price Movement
As of 1:19 PM, shares of MphasiS Limited are slipping by 0.33% in live trading, currently at ₹2202.6. The stock is seeing significant movement today, with trading continuing on a robust volume of 267,337 shares.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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