Vedanta Faces ₹1.08 Cr GST Penalty
Vedanta Limited has been slapped with a GST penalty of ₹1,07,80,010 for payment issues under the reverse charge mechanism on supplies from FY 2017-18 to 2019-20. The company plans to appeal the order before the Appellate Authorities.
Vedanta Faces ₹1.08 Cr GST Penalty
Vedanta Limited has received an order confirming a penalty of ₹1,07,80,010, along with a tax demand and applicable interest, according to an exchange filing.
The penalty was imposed by the Office of the Assistant/Deputy Commissioner, GST & Central Excise, Jharsuguda, for payment-related issues under the reverse charge mechanism on certain supplies during the financial years 2017-18 to 2019-20.
Vedanta has announced its intention to challenge the order before the Appellate Authorities. "The Company intends to file an appeal against the said Order with the Appellate Authorities," the exchange filing stated.
The disclosure was made under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.