Reliance Industries gets Rs 56.44 crore penalty order from India's tax body - The Economic Times

Mukesh Ambani-owned Reliance Industries said on Friday it has received a Rs. 56.44 crore penalty order from Joint Commissioner, CGST, Ahmedabad. The Order, dated November 25, has been issued interpreting that the input tax credit falls under blocked credit, without considering how the service provider classified the services, Reliance said in an exchange filing. Reliance shares, which has been on…