Mukesh Ambani-led Reliance Industries receives GST penalty notice

Reliance Industries announced on Thursday that Commissioner (Appeals), CGST, Ahmedabad has imposed a penalty of Rs 57 crores on the company alleging that RIL has paid a lesser amount of tax.

As per a regulatory filing by Mukesh Ambani-led RIL, "The order has been passed on the basis that the company has paid a lesser amount of tax due to the classification adopted for import of service related to hiring of vessels on time charter basis during the period from July 1, 2017 to January 24, 2018."

The company is said to file an appeal against the GST order. It further clarified that the financial impact of the order is to the extent of the penalty levied and there is no impact onoperations or other activities of RIL.


RIL share price: Shares of Reliance Industries Ltd. closed at Rs 1,510.60 per script after a 0.08% decline on November 13, 2025.

Also read: FIIs trim stake in Reliance Industries in Q2 but retail, MF raise bet

In the September quarter, RIL reported a 10% year-on-year growth in its consolidated Q2 net profit at Rs 18,165 crore versus Rs 16,563 crore reported in the year-ago period. The company's sequential PAT took a 33% dip compared to Rs 26,994 crore in Q1FY26.

The company's revenue from operations in the said quarter jumped 10% to Rs 2.59 lakh crore compared to Rs 2.35 lakh crore in the corresponding quarter of FY25. The topline was 4% higher QoQ versus Rs 2.49 lakh crore in Q1FY26.

Mukesh Ambani-led energy-to-telecom conglomerate reported Earnings Before Interest, Taxes, Depreciation and Amortisation (EBITDA) in the quarter under review at Rs 50,367 crore, up 15% YoY.