Hindalco Industries gets GST Demand of more than Rs.52 Crore on RCM matter:

Hindalco Industries gets GST Demand of more than Rs.52 Crore on RCM matter Hindalco Industries Limited got orders-in-original levying total taxes and penalties of Rs.52,66,58,508 from the Office of the Commissioner of Central Goods and Services Tax in Rourkela, Odisha, according to an exchange filing. The Department has issued a demand for GST payable as a reverse charge on water charges paid to the State Government. The company received the order on December 24, 2024. Although, a physical copy has yet to be received from the authority. The Company prefers to file an appeal against the matter, as it has great merit and legal arguments. The disclosure before the exchange was made in accordance with Regulation 30(6) and paragraph 20 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Hindalco Industries Limited an Indian aluminium and copper manufacturing company, is a subsidiary of the Aditya Birla Group. Its headquarters are at Mumbai, Maharashtra, India. The company is listed in the Forbes Global 2000 at 661st rank. The shares of the company currenlty trading at Rs.625.55, 0.51% down from the previous closing price.