Vedanta gets GST Demand Notice of Rs.1.86 Crore:

Vedanta gets GST Demand Notice of Rs.1.86 Crore Vedanta Ltd, a mining company, has received a GST demand notice totalling Rs.1.86 crore for claiming input tax credit, which the tax authority has deemed "ineligible". The company plans to file an appeal against the orders. In a regulatory filing on Tuesday, Vedanta Ltd stated that the GST demand notice was given by the Office of the Assistant Commissioner in Tirunelveli, Tamil Nadu. "The company has received orders from the Office of Assistant Commissioner, Tirunelveli, Tamil Nadu, confirming the demand of GST related to ITC availed by the company which is regarded as ineligible by such tax authority for the period from FY 2017-18 till FY 2021-22," Vedanta stated. The tax demand notice is for Rs.1,86,41,244, including interest and penalties. Vedanta stated that it has considered the merits of the matter and decided to file an appeal with the appellate authority within the time frame specified by the GST law. "The company is confident of a favourable outcome thereof and does not expect the said orders to have any significant financial impact on the company," the statement read.