Vodafone's GST Demand: A Staggering Rs 73 Crore Penalty
Monday, 2 September 2024, 10:27
Vodafone's GST Demand Overview
Vodafone Idea has been hit with a GST demand tallying over Rs 73 crore, which includes tax dues along with penalties and accrued interest. This regulatory filing, released on September 2, reveals nine orders from various GST offices pertaining to accusations of short tax payments and excess Input Tax Credit (ITC) claims. Vodafone has stated its disagreement with these orders and is contemplating action for correction.
Details of the Penalty Orders
- The GST office in Kolkata imposed the heaviest single penalty of Rs 33.44 crore for alleged underpayment of taxes on outward supplies, along with interest.
- Noida's GST office charged Vodafone Idea (VIL) with a penalty of Rs 26,89,94,489 due to excess ITC claims for FY 2019-20.
- From the Patna office, the company faces a penalty of Rs 10.94 crore, in line with the demand orders.
- Additional smaller penalties from various GST offices include Rs 4,211 from Chandigarh and Rs 1.57 crore from Andhra Pradesh, among others.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.