Vedanta Ltd Reports GST Penalty Orders

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Two Tax Orders Received

Vedanta Limited received tax orders from GST authorities, one from Goa confirming a penalty and tax demand of ₹19.33 lakh and another from Rourkela confirming a ₹10.65 crore penalty and tax demand

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Why the Orders Came

The Goa order relates to input tax credit issues for FY 2018-19, and the Rourkela order relates to delayed payment of tax liabilities for FY 2018-19 to FY 2022-23

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Company’s Response

Vedanta said it will appeal both orders and does not expect any material financial impact from these penalties

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Next Steps

Vedanta is evaluating the matter and hopes for a favourable result through the appeal process

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Vedanta Ltd Reports GST Penalty Orders

Two Tax Orders Received Vedanta Limited received tax orders from GST authorities, one from Goa confirming a penalty and tax demand of ₹19.33 lakh and another from Rourkela confirming a ₹10.65 crore penalty and tax demand

Why the Orders Came The Goa order relates to input tax credit issues for FY 2018-19, and the Rourkela order relates to delayed payment of tax liabilities for FY 2018-19 to FY 2022-23

Company’s ResponseVedanta said it will appeal both orders and does not expect any material financial impact from these penalties

Next StepsVedanta is evaluating the matter and hopes for a favourable result through the appeal process

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Two Tax Orders Received

Vedanta Limited received tax orders from GST authorities, one from Goa confirming a penalty and tax demand of ₹19.33 lakh and another from Rourkela confirming a ₹10.65 crore penalty and tax demand

Why the Orders Came

The Goa order relates to input tax credit issues for FY 2018-19, and the Rourkela order relates to delayed payment of tax liabilities for FY 2018-19 to FY 2022-23

Company’s Response

Vedanta said it will appeal both orders and does not expect any material financial impact from these penalties

Next Steps

Vedanta is evaluating the matter and hopes for a favourable result through the appeal process