Ahmedabad20 minutes ago
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Vodafone-Idea (Vi) has received a penalty notice of about Rs 638 crore from the Central Goods and Services Tax (CGST) Commissioner Office, Ahmedabad. The company has given this information in its stock exchange filing. Vodafone-Idea says that it does not agree with this tax demand and will take legal action against it.
Allegations of underpayment of tax and wrong input credit In this order issued by the Additional Commissioner Office of Ahmedabad, it has been alleged that Vodafone-Idea has paid less tax. Besides, the company is also accused of excessive use of Input Tax Credit (ITC).
This order has been issued under Section 74 of the Central Goods and Services Tax Act, 2017. In this, a penalty of ₹ 6,37,90,68,254 has also been demanded along with the outstanding tax and interest thereon.
Company said- We do not agree with the order, will challenge In the information given to the Stock Exchange (BSE), the company has said that we do not agree with this order and will take appropriate legal action against it. Usually in such situations companies approach the Appellate Tribunal or High Court.
Yesterday the government gave relief by paying the dues Earlier, the central government gave big relief to the debt-ridden telecom company Vodafone Idea. Yesterday i.e. 31st December, the government has frozen the AGR (Adjusted Gross Revenue) outstanding on the company at Rs 87,695 crore.
This means that the company will no longer have to pay this huge amount immediately. According to sources in government news agencies ANI and PTI, this payment will now have to be made in a window of 10 years between financial years 2032 to 2041. AGR is that part of the earnings of telecom companies on which the government levies license fee and spectrum usage charge (SUC).
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