India, Feb. 4 -- The Central Goods and Services Tax (CGST) department has slapped a penalty of INR 1.19 Cr on Paytm parent One97 Communications Limited for alleged non-compliance over tax invoice issuances to customers.

According to a regulatory filing by the fintech company, the Joint Commissioner of Adjudication, CGST Delhi North, has also slapped a separate penalty of INR 59.94 Lakh on the company's CEO Vijay Shekhar Sharma.

The order, dated February 3, 2025, pertains to alleged violations during financial years 2020-21, 2021-22 and 2022-23.

"The company, based on its assessment and expert advice, believes that the penalty demand is not maintainable and is evaluating all options, including filing an appeal against the order," the fi...