Vedanta Ltd, in an exchange filing on Monday, informed that its subsidiary Hindustan Zinc Ltd (HZL) has received an order from the Office of the Commissioner, Central Goods & Service Tax (CGST) – Udaipur, imposing a penalty of Rs 73.46 lakh, along with a tax demand and applicable interest.
According to the disclosure made by HZL on October 5, 2025, the order pertains to the reversal of CENVAT credit on cement used as an input in mines during the period July 2016 to June 2017.
The order — No. 01/CE/UDR/2025-26 dated October 1, 2025 — was received by the company on October 4, 2025, at around 5:00 PM.
HZL stated that it intends to appeal before the Appellate Authority within the time limit prescribed under excise law, expressing confidence in a favorable outcome. The company also clarified that the order is not expected to have any material financial impact on its operations or financials.
Vedanta Ltd, which holds a majority stake in Hindustan Zinc, confirmed that the disclosure has been made under Regulation 30 of SEBI’s Listing Obligations and Disclosure Requirements (LODR), 2015.
