Vodafone Idea imposed Rs 13.16 crore penalty in GST case
GST additional commissioner’s office in Chandigarh has imposed a Rs 13.16 crore penalty on Vodafone Idea, the company said in a regulatory filing on Thursday.
According to the filing, the order was passed on January 10 against the debt-ridden telecom firm for alleged “wrongful transition of CENVAT credit to Goods and Services Tax (GST) regime”.
“Order passed u/s 74 of Central Goods and Services Tax Act, 2017, inter-alia, levying a penalty of Rs 13,16,53,661,” Vodafone Idea (VIL) said in the filing.
The company said the maximum financial impact is to the extent of the tax demand, interest and penalty levied. “The Company does not agree with the Order and will take appropriate legal action(s) for rectification/ reversal of the same,” VIL said.
The order was issued by the Office of the Additional Commissioner, Central Goods & Service Tax in Chandigarh.
Source from: https://www.zeebiz.com/personal-finance/gst/news-vodafone-idea-imposed-rs-1316-crore-penalty-in-gst-case-271859