TTML penalty reduced to Rs 7.57 Cr by CGST order
Tata Teleservices (Maharashtra) Limited received an order from the Commissioner, CGST & Central Excise Commissionerate, Belapur, reducing the penalty from Rs 36.14 Cr to Rs 7.57 Cr plus tax and interest. The order, dated June 23, 2026, concerns alleged irregular availment of Cenvat Credit during FY10 to FY12. The company stated it does not agree with the findings and will take appropriate action.
*this image is generated using AI for illustrative purposes only.
Tata Teleservices (Maharashtra) Limited has received an order from the Commissioner, CGST & Central Excise Commissionerate, Belapur, significantly reducing the penalty imposed on the company. The order, dated June 23, 2026, and received on June 24, 2026, lowers the penalty amount from Rs 36,14,39,671 to Rs 7,57,41,389, along with applicable tax and interest. This reduction follows proceedings under Section 73 of the Finance Act, 1994, regarding alleged irregularities.
The dispute concerns the alleged irregular or ineligible availment of Cenvat Credit during the financial years 2009-10 to 2011-12. While the order provides relief by reducing the financial burden, the company maintains its position on the matter. Tata Teleservices (Maharashtra) Limited stated that it does not agree with the findings and will take appropriate actions to address the issue.
The disclosure was submitted to the exchanges in compliance with Regulation 30 of the SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015. The company noted that the maximum financial impact is limited to the extent of the tax, interest, and the reduced penalty levied by the authority.
Details of the Order
The following table outlines the key particulars of the regulatory order:
| Sr. No. | Particulars | Information/Remarks |
|---|---|---|
| 1 | Name of the authority | Commissioner, CGST & Central Excise Commissionerate, Belapur |
| 2 | Nature of action | Order passed u/s 73 of the Finance Act, 1994 reducing penalty from Rs. 36,14,39,671 to Rs. 7,57,41,389 along with tax & interest |
| 3 | Date of receipt | June 24, 2026 (10:27 a.m.) |
| 4 | Details of violation | Alleged irregular or ineligible availment of Cenvat Credit during FY10 to FY12 |
| 5 | Financial impact | Maximum impact to the extent of tax, interest and penalty levied |
Historical Stock Returns for Tata Teleservices Maharashtra
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +0.86% | -0.71% | +0.86% | -13.14% | -34.66% | -3.18% |
What specific legal avenues will Tata Teleservices pursue to further challenge the remaining penalty and tax demands?
How will the provision for this reduced penalty impact the company's quarterly financial results for the period ending June 2026?
Does this order set a precedent that could influence the outcome of similar ongoing Cenvat Credit disputes for other telecom operators?
19
Create Custom Screeners 
Access 200+ Pre-built Filters 
Use 50+ Readymade Screener 
