Vodafone Idea gets Rs 27.3 crore GST penalty on re-availment of credit reversed earlier in FY20

Vodafone Idea has received an order from the Commercial Tax Office in Chennai South, Tamil Nadu confirming the penalty of Rs 27.3 crore with along with the demand and interest as applicable. The order passed under Section 74 of Integrated Goods and Services Tax Act, 2017. The penalty is for re-availment of credit reversed earlier in FY20.

According to the filing on the exchanges, the maximum impact for Vodafone Idea is to the extent of tax demand, interest and penalty levied. The Company stated that it “does not agree with the Order and will take appropriate legal action(s) against the same.”