Hindustan Zinc faces ₹92.5 cr penalty over enter tax credit score dispute, ETCFO
Highlights
- Hindustan Zinc Restricted has been imposed a penalty of ₹ 41,10,88,258 and ₹ 51,45,01,846 together with tax demand and relevant curiosity for the monetary years 2018-19 and 2019-20, respectively, by the Workplace of the Deputy Commissioner of State Tax, Udaipur.
- The corporate plans to problem the order relating to the Enter Tax Credit score dispute underneath Part 17(5) earlier than the Appellate Authority, as acknowledged of their trade submitting on January 13, 2025.
Hindustan Zinc Restricted has obtained an Order from the Workplace of the Deputy Commissioner of State Tax, Udaipur confirming a Penalty of ₹ 41,10,88,258 and ₹ 51,45,01,846 together with Tax demand and relevant Curiosity throughout FY 2018-19 and FY 2019-20 respectively.
The difficulty pertains to a dispute on Enter Tax Credit score underneath Part 17(5).
The Firm is more likely to problem the order earlier than the Appellate Authority. “Contemplating the deserves of the case, the Firm intends to file an enchantment earlier than the Appellate Authority throughout the time restrict prescribed underneath the GST Regulation,” Hindustan Zinc mentioned in an trade submitting.
The Firm obtained the order on January 13, 2025.
The disclosure was made underneath Regulation 30 of the SEBI (Itemizing Obligations and Disclosure Necessities) Rules, 2015.
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