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."
Mahindra & Mahindra has been fined Rs 4.12 crore for issues related to input tax credit claim and education cess credit balance carry forward from the pre-GST regime to the GST regime for its two-wheeler business. The penalty includes non-reporting of invoices by vendors in GST returns and the disallowance of carrying forward Education Cess credit balance.
M&M Tax Penalty: Mahindra & Mahindra has been fined INR 4.12 crore for issues related to input tax credit claim and education cess credit balance carry forward from the pre-GST regime to the GST regime for its two-wheeler business. The penalty includes non-reporting of invoices by vendors in GST returns and the disallowance of carrying forward Education Cess credit balance.