Vedanta Limited has received an Order confirming Penalty of ₹ 1,07,80,010/- along with Tax demand and applicable Interest, according to the exchange filing.
The Office of the Asst./Deputy Commissioner, GST & Central Excise, Jharsuguda has conformed the penalty for payment related to GST under reverse charge mechanism on certain supplies during the period FY 2017-18 to FY 2019-20.
The Company is likely to challenge the order before an Appellate Authorities. “The Company intends to file an appeal against the said Order with the Appellate Authorities,” said Vedanta Limited in an exchange filing.
The disclosure was made under Regulation 30 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Source #ET
