Vodafone's GST Penalty: A Rs 73 Crore Demand Impacts Vodafone Idea's Finances
Monday, 2 September 2024, 10:27
Vodafone's GST Demand and Financial Implications
Vodafone has recently been confronted with a GST demand exceeding Rs 73 crore, which incorporates tax dues along with significant penalties and accrued interest. This regulatory filing disclosed on September 2 sheds light on the financial repercussions faced by Vodafone Idea.
Details of the Tax Demand
- The history includes nine orders from various GST offices, pinpointing alleged short payment of taxes.
- Key penalties include a hefty Rs 33.44 crore imposed by the GST office in Kolkata for purported tax short payments.
- Further, the Noida GST office demands a substantial penalty amounting to Rs 26,89,94,489 related to excessive ITC claims.
- Additional orders from offices in Patna, Chandigarh, Andhra Pradesh, Odisha, and Himachal Pradesh culminate in a total tax liability.
Vodafone's Response
In response to the GST demand, Vodafone has expressed dissent regarding the orders. The company is committed to taking necessary actions for rectification or reversal of the demands laid against it.
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.