Vodafone Idea slapped with GST Tax Demand Notice of Rs.73 Crore:

Vodafone Idea slapped with GST Tax Demand Notice of Rs.73 Crore Vodafone Idea Ltd., a debt-ridden telecom business, has received a demand notice worth more than Rs.73 crore from various GST offices including tax dues, penalties and interest, according to a regulatory filing on Monday. The company has received nine separate orders for alleged tax deficiencies and inappropriate claims of an input tax credit. The GST office in Kolkata levied the highest penalty of Rs.33.4 crore, along with requests for tax and interest on September 1. This penalty is based on alleged short payments for outward supply and excessive ITC claims. Furthermore, the GST office in Noida has directed VIL to pay a penalty of Rs.26.9 crore, with applicable interest, by September 1. This ruling covers claimed excess ITC claims and a shortfall in tax payments for the financial year 2019/20. The Patna GST office imposed a penalty of Rs.10.9 crore on VIL, in addition to demand and interest charges. According to the filing, the company received a punitive order of Rs.4,211 from the Chandigarh GST office, a Rs.1.57 crore order from the Andhra Pradesh circle, Rs.9.51 lakh from Odisha, and Rs.50,000 and Rs.36,000 from the Himachal Pradesh office. Vodafone India Ltd. stated that it does not agree with the rulings and will take appropriate action to reverse or rectify the orders. "The company does not agree with the orders and will take appropriate action(s) for rectification/ reversal of the same," according to the filing.