
MOIL Limited, a government-owned enterprise, has disclosed the receipt of a significant tax order from the Joint Commissioner of CGST & Central Excise, Jabalpur. The demand pertains to the payment of Goods and Services Tax (GST) and associated penalties under the Madhya Pradesh Gramin Avsanrachna Tatha Sadak Vikas Adhiniyam (MPGATSVA).
Key Highlights of the Order:
- Nature of Demand:
- GST payment under the reverse charge mechanism on MPGATSVA payments made to the Mining Department of Madhya Pradesh.
- Timeframe:
- The demand covers the period from July 2017 to December 2022.
- Financial Implications:
- GST Amount: ₹20,28,92,500
- Penalty Amount: ₹20,28,92,500
- Total Impact: ₹40.58 crore
Company’s Response:
MOIL Limited has confirmed its intent to appeal the order before the appropriate appellate authority. The company clarified that this development does not impact its operations or other activities.
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