GST Demand Hits Vodafone Idea: Company Vows to Fight Back

Vodafone Idea Ltd. has been served with a GST demand order amounting to ₹16.73 crore, along with a fine, by the West Bengal tax department. The order accuses the company of excess input tax credit and short payment of tax. The company does not accept the order and will appeal against it. This comes in the wake of a recent Supreme Court judgement confirming a ₹1,128 crore tax refund to Vodafone Idea. The stock of the company dropped more than 3% after the GST news. Vodafone Idea continues to battle financial issues amidst regulatory battles.

 

Source: Upstox, Economic Times, Business Standard.