Vedanta Faces ₹1.08 Cr GST Penalty

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.