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Vedanta Ltd on Saturday (February 8) said it has received two orders on February 6 from the office of the Central Board of Goods and Services Tax (CGST) and Central Excise, Rourkela Commissionerate, imposing tax demand and interest thereon, totalling a penalty of Rs 141.36 crore. The first order imposes a penalty of Rs 86.06 crore relating to availing and utilisation of input tax credit (ITC) during the financial year 2017-18.
The second order seeks a penalty of Rs 55.30 crore for availing ineligible ITC under Section 17(5) of the CGST Act, 2017 between financial years 2017-18 and 2019-20. Vedanta received both the orders on February 7, 2025 and said it would appeal against them. The company said these orders will not have any financial impact. Share performance On Monday, the company's stock closed 2.65 per cent higher at Rs 455.50. In the last one year, the company's stock has seen a gain of 63.50 per cent.
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