Tata Consultancy Services Limited — Others, 15-11-2024: Action(s) taken or orders passed

Tata Consultancy Services has received a disallowance order regarding Cenvat Credit from the Principal Commissioner CGST & Central Excise, levying a penalty of ₹17.83 crore for the fiscal years 2010-11 to 2013-14, along with an additional ₹5,000 penalty. TCS plans to appeal this decision and does not anticipate a material impact on its financial or operational activities. For investors, the situation reflects a manageable risk, as the company is actively addressing the matter, maintaining a positive outlook on its overall financial health.