Vedanta Faces Rs 1.86 Cr GST Demand: Appeal Planned
Apr 02, 2024 17:39
Vedanta Ltd received a GST demand notice for Rs 1.86 crore for ineligible input tax credit. The company will appeal the decision, stating it doesn't expect a material financial impact.
Illustration: Dominic Xavier/Rediff.com
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.
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.
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.
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