Adani Green Energy Limited has received an Order in Form DRC-07 from the Office of Joint Commissioner of Central Tax, Lucknow under section 73 of the Central Goods and Services Tax Act, 2017 alleging availment of excess input tax credit for FY 2020-21 amounting to ₹ 3.59 crores (including penalty of Rs. 32 lakhs), according to the Company’s regulatory filing.
The matter was related to alleged excess availment of Input Tax Credit. The Company is likely to challenge the order before an appropriate authority. “The Company is evaluating the next steps based on detailed review of the order and exploring all possible options to contest the demand including filing an appeal against the same and believes that there is strong merit in the case,” said Adani Green in their regulatory filing.
The disclosure before the exchange was made under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Source #ET
