Apollo Tyres slapped penalty by GST Dept. in UP; plans appeal against the order Tyre manufacturer Apollo Tyres said the company has received a penalty from the Goods and Service Tax (GST) department in Uttar Pradesh.

Under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the company has submitted the details of the order received under Central Goods and Services Tax Act, 2017 in its regulatory filings.

The order was passed by the Assistant Excise and Taxation Officer (GST), Uttar Pradesh, which has imposed a penalty of INR 1.3 lakh on Apollo Tyres, said the company.

Details of the violation committed or alleged to have been committed by the company were said to be a ‘dispute regarding E-way bill’. The company has made it clear that it will file an appeal before the Appellate Authority in due course.

Adding in the regulatory filings, the company further added, “there is no material impact of the same on the financial, operations or other activities of the company.”