Vodafone Idea (Vi) has been penalised with ₹40.09 under the Central Goods and Services Tax Act, 2017. However, the telco said it does not agree with the order and will take appropriate action for the rectification or reversal of the same.
Vi said in a recent regulatory filing that it has received the order from the Joint Commissioner, State Tax, Circle C, Jaipur II, AC/CTO, Rajasthan, on the allegation that it has claimed Input Tax Credit (ITC) from suppliers whose registration has been cancelled ab initio FY18-19.
“The maximum financial impact is to the extent of tax demand, interest and penalty levied. The company does not agree with the Order and will take appropriate action(s) for rectification/ reversal of the same,” Vi said.
Source #ET
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