Vodafone Idea has received an order under the Central Goods and Services Tax Act, 2017, imposing a penalty of Rs 10.76 crore. The company, which is in disagreement with the order, plans to seek rectification and reversal of the penalty, citing the "alleged wrong transition of CENVAT credit into GST regime."
The three orders related to the availing of "alleged ineligible Input Tax Credit (ITC)," were received on December 30, the leading paints maker said in a regulatory filing. These include an order passed under the Central Goods and Services Tax Act and Andhra Pradesh Goods and Services Tax Act for FY18-FY20, raising a demand of Rs 1.01 crore, disallowing ITC pertaining to repair and maintenance, travelling, and promotional expenses, and a penalty of Rs 5.72 lakh.
Bharti Airtel received a penalty order of Rs 24.94 lakh under the Central Goods and Services Tax Act, related to alleged irregular input tax credit claims from 2017-18 to 2021-22. Airtel stated it does not agree with the order and will take suitable action for rectification or reversal, with the maximum financial impact limited to the penalty amount.
Bharti Airtel received a penalty order of Rs 24.94 lakh under the Central Goods and Services Tax Act, related to alleged irregular input tax credit claims from 2017-18 to 2021-22. Airtel stated it does not agree with the order and will take suitable action for rectification or reversal, with the maximum financial impact limited to the penalty amount.