Quick Summary
Vedanta Limited reported that its subsidiary, Bharat Aluminium Company Limited (BALCO), has been served with a Goods and Services Tax (GST) demand notice amounting to Rs 84 crore. The notice, issued by the Office of the Joint Commissioner, Bilaspur, pertains to the fiscal year 2017-18 and is related to various interpretational issues under the provisions of the Central Goods and Services Tax Act, 2017. The mining major disclosed in a regulatory filing that the total GST demand stands at Rs 84
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FAQ :
The total GST demand notice issued to BALCO amounts to Rs 84,70,09,977.
The GST demand notice pertains to the fiscal year 2017-18.
The notice is related to various interpretational issues under the provisions of the Central Goods and Services Tax Act, 2017.
Yes, BALCO has been directed to pay a penalty of 10 percent of the total GST demand amount, along with applicable interest.
Both BALCO and Vedanta have expressed confidence that the order will not have any substantial financial impact on the company.
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