Reliance Industries Limited (500325,RELIANCE) has received an order from the Deputy Commissioner of State Tax, Jamnagar, India imposing on the company a penalty of Rs. 1.11 crore alleging incorrect availment of input tax credit by the company. The company intends to file an appeal against the Order.
The company said the financial impact of the Order is to the extent of the penalty levied. There is no impact on operations or other activities of the company due to the Order.
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