Vodafone's Rs 73 Crore GST Demand and Penalty: What It Means for Vodafone Idea
Monday, 2 September 2024, 10:27
Understanding Vodafone's GST Demand and Penalty
Vodafone has received a GST demand totaling over Rs 73 crore, including potential penalties and interest. This follows allegations of short payment of taxes and the availing of excess input tax credit (ITC). The company has announced its intent to contest these orders.
Details of the GST Orders
- The Kolkata GST office imposed the highest penalty of Rs 33.44 crores.
- Noida's GST office demanded Rs 26.89 crore due to alleged ITC violations.
- Further penalties were issued from Patna and other regions.
VIL's management stated that they would pursue rectification or reversal of these orders.
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.