Quick Summary
Vodafone Idea has been hit with a significant penalty order from the Commercial Tax Office in Chennai South, Tamil Nadu. The order confirms a penalty of Rs 27.3 crore, along with the demand and interest as applicable, under Section 74 of the Integrated Goods and Services Tax Act, 2017. This penalty pertains to the re-availment of credit that was reversed earlier in FY20. Legal Challenge Expected In a filing on the exchanges, Vodafone Idea indicated that it disagrees with the order and plans
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FAQ :
Vodafone Idea has been fined Rs 27.3 crore.
The penalty is for the re-availment of credit that was reversed earlier in FY20.
The penalty order was issued by the Commercial Tax Office in Chennai South, Tamil Nadu.
Vodafone Idea disagrees with the order and plans to pursue appropriate legal actions.
The company stated that the maximum financial impact would be the combined amount of the tax demand, interest, and penalty levied.
No, Vodafone Idea has faced previous GST penalties, including a Rs 13 crore penalty in Chandigarh and is contesting a Rs 10.7 crore penalty order.
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