Quick Summary
In a recent development, mining conglomerate Vedanta Ltd disclosed on Tuesday, April 16, that it has been slapped with a hefty Goods and Services Tax (GST) penalty amounting to ₹27.97 crore. The penalty is attributed to a lingering dispute concerning Input Tax Credit reconciliations spanning from the fiscal years 2018-19 to 2020-21. The penalty order, confirmed by the Office of the Additional Commissioner, GST Central Excise Commissionerate, Rourkela, includes not only the penalty but also t
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FAQ :
Vedanta Ltd has been issued a GST penalty order amounting to ₹27.97 crore.
The penalty is due to a dispute concerning Input Tax Credit reconciliations for the fiscal years 2018-19 to 2020-21.
The penalty order was issued by the Office of the Additional Commissioner, GST & Central Excise Commissionerate, Rourkela.
Vedanta intends to file an appeal against the order with the Appellate Authorities and is hopeful of a favourable outcome.
The company has stated that it does not expect the order to have any material financial impact on the company.
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