The International Cricket Council (ICC) said both teams were penalised two points from their 2021-23 tally leaving them on two points apiece.
The governing body added that the two sides have been fined 40 percent of their match fee.
Match Referee Chris Broad imposed the sanctions after both sides were ruled to be two overs short of their targets after time allowances were taken into consideration.
Captains Joe Root and Virat Kohli both pleaded guilty and accepted the proposed sanctions with the rules stipulating that players are fined 20 percent of their match fee and teams penalised a point for every over their side fail to bowl in the allotted time. (BBC)