MphasiS faces Rs 1,941,007 penalty from Bengaluru tax authority

Arunika Jain — Wed, 06 May 2026 07:37:19 +0000

MphasiS has been hit with a penalty of Rs 1,941,007 by the Joint Commissioner of Commercial Taxes (Appeals-5) in Koramangala, Bengaluru. The penalty was imposed under Section 73(9) of the Karnataka Goods and Services Tax Act, 2017.

The order, received on 5th May 2026, cites violations including the late reversal of input tax credit under Rule 42 of the Central Goods and Services Tax Act, 2017. Additionally, MphasiS was found non-compliant in submitting the special economic zone endorsement and determining the place of supply for export transactions.

Despite the penalty, MphasiS has stated that there will be no impact on its financial, operational, or other activities. The company has assured that the penalty does not affect its business operations or financial standing.

This information has been disclosed in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and is available on the company’s website.

Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).

Joint Commissioner of Commercial Taxes | Business Upturn

MphasiS faces Rs 1,941,007 penalty from Bengaluru tax authority