๐๐ถ๐ป๐ฑ๐ฎ๐น๐ฐ๐ผ ๐๐ป๐ฑ๐๐๐๐ฟ๐ถ๐ฒ๐ received an order from the Office of the Commissioner of Central Goods and Services Tax (CGST), Rourkela, Odisha, levying a total of โน52.66 crore in taxes and penalties.
Key Details:
- Authority: Office of the Commissioner of Central Goods and Services Tax, Rourkela, Odisha.
- Action Taken: Issuance of an order demanding GST under reverse charge for water charges paid to the State Government.
- Order Date: Received via email on December 24, 2024.
- Impact on Operations: Hindalco stated that the orders are not expected to have a material impact on its financials, operations, or activities.
- Response: The company plans to file an appeal, asserting a strong case based on merit and law.
Hindalco clarified that this demand is part of regular tax audits and scrutiny, which sometimes result in variances necessitating interest and penalties. The company reiterated that it complies with all regulatory obligations and will address this issue through the appropriate legal channels.
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