Den Networks Limited y has received an order dated from the Joint Commissioner, CGST, and Central Excise Commissionerate, Lucknow imposing an aggregate penalty of ₹ 4,75,00,098/- on the Company under Section 74 of the Central Goods and Services Tax Act, 2017, and the Uttar Pradesh Goods and Services Tax Act, 2017, according to the Company’s exchange filing.
The Order has disallowed the adjustment of the deferred revenue for the FY 2017-18 and alleges lesser discharge of goods and services tax by the Company.
The company is likely to challenge the order before the appellate authority. “The Order is erroneous and the Company intends to file an appeal against the Order,” said Den Network in their regulatory filing.
