Vodafone Idea receives Penalty Order worth Rs.8.93 Crore for ITC Claimed under GST Act:

Vodafone Idea receives Penalty Order worth Rs.8.93 Crore for ITC Claimed under GST Act Vodafone Idea Limited has received a Penalty Order of Rs.8,93,30,093 under the Central Goods and Services Tax Act, 2017, according to an exchange filing. The order issued under Section 74 of the Central Goods and Services Tax Act of 2017 confirmed the penalty, as well as any appropriate demand and interest. The matter was related to an allegation of availment of ITC (Input Tax Credit) for an exempt supply of services. The company is likely to challenge the order in front of the appropriate authorities. "The Company disagrees with the Order and will take appropriate action(s) against it," Vodafone Idea stated in their regulatory filing. Vodafone Idea is an Indian telecommunications company, headquartered in Mumbai and Gandhinagar. It is an all-India integrated GSM operator offering mobile telephony services.