Indus Towers Limited — Others, 01-03-2025: Action(s) taken or orders passed

Indus Towers Limited has announced a board meeting to discuss the receipt of a penalty order from the Assistant Commissioner in Karnataka amounting to ₹3.10 crore. The penalty is related to the disallowance of Input Tax Credit on towers, classified as immovable property under the GST Act. However, the company disagrees with this assertion and plans to contest the order, asserting that the towers are, in fact, movable. This development is not expected to materially affect the company's financials or operations. Investors might view this as a potential risk, but the company's strong legal position could provide a positive outlook if the challenge succeeds.