Latest News | Vedanta Receives GST Demand Notices Worth Rs 1.86 Cr

New Delhi, Apr 2 (PTI) Mining giant Vedanta Ltd has received GST demand notices to the tune of Rs 1.86 crore for availing input tax credit, which has been termed "ineligible" by the tax authority.

The company said it will file an appeal against the orders.

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In a regulatory filing on Tuesday, Vedanta Ltd said the Office of the Assistant Commissioner, Tirunelveli, Tamil Nadu, has sent the GST demand notice.

"The company has received orders from Office of Assistant Commissioner, Tirunelveli, Tamil Nadu, confirming demand of GST related to Input Tax Credit availed by the company which is regarded as ineligible by such tax authority for the period from FY 2017-18 till FY 2021-22," Vedanta said.

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The demand notice is for Rs 1,86,41,244, which includes interest and penalty.

Vedanta said it has evaluated the merits of the case and decided to file the appeal with the appellate authority within the time limit prescribed under the GST law.

"The company is hopeful of a favourable outcome thereof and does not expect the said orders to have any material financial impact on the company," it added.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)