Shares of Vedanta opened 0.5 percent higher during early trade on November 20, after the Anil Agarwal-led company received a GST demand order worth Rs 1.38 crore from GST & Central Excise Commissionerate, Rourkela. At 9:50 am, the stock was trading at Rs 240.45.
In a November 18 regulatory filing, Vedanta said that it has received GST demand order worth Rs 1,38 crore along with applicable interest, from the GST & Central Excise Commissionerate, Rourkela. A penalty of 10 percent of the demand issued may also be leviable, if the original demand is not discharged by the company, the filing adds. The company has decided to file the appeal with the Appellate Authority under the GST Law, after evaluated the merits of the case. The appeal drafting is in progress and will be filed in due course, the filing said.
Read more at: moneycontrol
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