Crisil Hit with ₹8 Cr GST Penalty Over Export Services Dispute

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has received a ₹7.94 crore penalty from Chennai tax authorities under Section 74 of the CGST Act for alleged misclassification of export services in FY21. The order was issued by the State Tax Officer, Mandaveli Assessment Circle. While export of services is usually zero-rated under GST, Section 74 is invoked in cases involving tax evasion or misreporting. Crisil maintains that the penalty will not materially affect its operations or financials, though it hasn’t disclosed if it will legally challenge the order.