TVS Srichakra Hit With Rs 10.71 Lakh Penalty by Uttarakhand GST Department Over Goods Transport Without Valid E-Way Bill:

TVS Srichakra Limited has received a penalty order of Rs 10.71 lakh from the State Tax Officer in Rudrapur, Uttarakhand, the company said in a regulatory filing.

The order, received on October 5, relates to the detention of a vehicle carrying goods. According to the company, the e-Way Bill generated for the shipment was later rejected or cancelled by the recipient due to an inadvertent error.

As a result, when the vehicle was inspected, the goods were found to be moving without a valid e-Way Bill. The State GST Department treated this as a violation of the rules governing the transportation of goods and imposed the penalty on the company.

TVS Srichakra said it is evaluating legal options, including filing an appeal before the appropriate appellate authority.

The company added that it does not expect the order to have any material impact on its operations.