Bad News for Vodafone Idea: Deputy Commissioner, Central GST affirms Rs. 46.23 Lakh penalty

Bad News for Vodafone Idea: Deputy Commissioner, Central GST affirms Rs. 46.23 Lakh penalty

Vodafone Idea Limited has been hit by tax demand of Rs. 46,23,793/- along with demand and Interest. Order was passed against the company under Rule 14(1)(ii) of CENVAT Credit Rules, 2004 read with proviso to Section 73(1) of the Finance Act, 1994 by Deputy Commissioner, Central GST – Ahmedabad.

Alleged denial of CENVAT credit on capital goods has led to this action.

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This was disclosed by the company under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The Company added that it does not agree with the Order and will take appropriate legal action against the same.