Reliance Industries Hit with Rs 56.44 Crore GST Penalty, Plans Legal Appeal

Reliance Industries was fined Rs 56.44 crore by the CGST Joint Commissioner in Ahmedabad over disputed input tax credit classifications. The order claims some credits were ineligible, a stance Reliance contests, citing misinterpretation of GST rules. It plans to appeal, stating the issue won’t affect operations. Shares remain steady, indicating investor confidence in the company’s legal position.