L&T faces Rs.173.24 crore penalty over GST dispute; company plans appeal
Infrastructure major Larsen and Toubro (L&T) on Friday (November 29) said it has been penalised to the tune of Rs.173.24 crore by the Joint Commissioner, CGST and Central Excise, Bhopal, for the assessment years 2017-18 to 2021-22.
"We wish to inform you that the Joint Commissioner, CGST and Central Excise, Bhopal vide order under section 161 of The Central Goods & Services Tax Act, 2017 dated November 27, 2024, received by the company on November 28, 2024, has levied penalties of Rs.173,24,59,695/- covering assessment years 2017-18, 2018-19, 2019-20, 2020-21 and 2021-22," L&T said in a regulatory filing.
The order, issued on November 27, 2024, and received by the company on November 28, 2024, pertains to short tax payments arising from discrepancies between the company’s financial statements and GST returns. The mismatch includes non-taxable transactions, and the company’s claims for input tax credits and reversals are also under dispute.
The penalties, which total Rs.173.24 crore, have been imposed under Section 122 of the Central Goods & Services Tax (CGST) Act, 2017. L&T intends to challenge the order with the appellate authority.
