Vodafone Idea Faces Rs 73-Crore GST Penalty – What This Means for VIL
Monday, 2 September 2024, 10:27
GST Demand Overview
Vodafone Idea has been slapped with GST demand orders worth more than Rs 73 crore, which includes penalties and interest. According to a regulatory filing on September 2, the debt-ridden telecom company has received nine orders regarding alleged tax discrepancies.
Details of the GST Orders
- Kolkata GST Office: Levied the highest penalty of Rs 33.44 crore for alleged short payment and excess input tax credit.
- Noida GST Office: Orders a penalty of Rs 26.89 crore for discrepancies in FY 2019-20 related to ITC.
- Patna GST Office: Slapped a penalty of Rs 10.94 crore with demands for tax and interest.
- Other Penalties: Various smaller orders received from Chandigarh, Andhra Pradesh, Odisha, and Himachal Pradesh.
Next Steps for Vodafone
Vodafone Idea has expressed its intent to contest these orders, indicating that it does not agree with the conclusions drawn by GST authorities. The company aims to pursue appropriate actions for the rectification and reversal of these penalties.
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.