Vodafone Hit with Rs 73 Crore GST Demand and Penalty
Overview of Vodafone's Financial Circumstances
Vodafone Idea Limited (VIL) has been imposed with a significant GST demand exceeding Rs 73 crore. This includes tax dues, interest, and penalties as indicated in a recent regulatory filing. The orders stem from allegations of tax short payments and improper claims of input tax credits.
Details of GST Demand Orders
Multiple GST offices have issued nine demand orders to Vodafone. The highest penalty of Rs 33.44 crore came from the Kolkata GST office for allegations of tax short payments on sales and excess ITC claims. Other local offices have imposed further penalties, with the Noida office demanding Rs 26.89 crore, while Patna has levied Rs 10.94 crore.
- Kolkata GST penality: Rs 33.44 crore
- Noida GST penalty: Rs 26.89 crore
- Patna GST penalty: Rs 10.94 crore
Company's Response and Next Steps
Vodafone has stated that it disagrees with these GST orders and plans to pursue appropriate actions for rectification. The company asserts its commitment to resolving these issues effectively.
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.