Tata Consultancy Services has received an order passed by the Commissioner of Customs (General), Mumbai, according to the exchange filing.
The Company has received the Order from the Authority for disallowing exemption claimed and levying a penalty of ₹50,05,282/- for the FY2019-20 to FY2022-23 under Section 114A of the Customs Act, 1962.
The tech company is likely to appeal against the Order before the appellate authority. “The Company does not foresee any material impact on its financial, operational or other activities,” Tata Consultancy Services said in their exchange filing.
TCS has disclosed the aforesaid development under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
