Shares of Vedanta Ltd are in focus today after the metal and mining major said it received two orders worth Rs 48.82 crore, along with applicable interest and penalty of 10% of GST demand, from additional commissioner, GST and Central Excise Commissionerate Rourkela.
The orders relate to the demand for GST input tax credit availed during FY18 and FY19 on account of interpretational issues in terms of relevant provisions of the Central Goods and Services Tax Act, said Vedanta in a communication to bourses (stock exchange).
Vedanta said it evaluated the merits of the case and decided to file the appeal with the Appellate Authority within the time limit prescribed under the GST Law. The company is hopeful of a favorable outcome thereof and does not expect the said orders to have any material financial impact on the company.
Read more at: bt MarketTODAY
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