Latest News | Vodafone Idea Slapped with Rs 73-cr GST Demand, Penalty Orders
Get latest articles and stories on Latest News at LatestLY. Debt-ridden telecom firm Vodafone Idea has been slapped with demand orders from various GST offices to pay over Rs 73 crore comprising tax dues with penalty and interest, a regulatory filing said on Monday.
New Delhi, Sep 2 (PTI) Debt-ridden telecom firm Vodafone Idea has been slapped with demand orders from various GST offices to pay over Rs 73 crore comprising tax dues with penalty and interest, a regulatory filing said on Monday.
The company has received nine orders from various GST offices mostly for alleged short payment of taxes and allegedly availing excess input tax credit (ITC).
The GST office in Kolkata has levied highest penalty of Rs 33.44 crore on the company along with demand of tax and interest on September 1 for "Alleged Tax short paid on outward supply, excess ITC availed", according to the filing.
Noida GST office has ordered Vodafone Idea (VIL) to pay "penalty of Rs 26,89,94,489 along with demand and interest as applicable" on September 1 for alleged "excess availment of ITC and short tax paid for FY 2019-20" by the company.
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Patna GST office has levied a penalty of Rs 10.94 crore along with demand and interest on VIL.
The company has received a penal order of Rs 4,211 from Chandigarh GST office, Rs 1.57 crore order from Andhra Pradesh circle, Rs 9.51 lakh from Odisha, Rs 50,000 and Rs 36,000 from Himachal Pradesh office, according to the filing.
VIL said that it does not agree with the orders and will take appropriate action for the reversal or rectification of the orders. "The company does not agree with the orders and will take appropriate action(s) for rectification/ reversal of the same," the filing said.
(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)