IndiGo Faces ₹1.27 Crore GST Penalty On Input Tax Credit, Plans To Challenge Order
InterGlobe Aviation, parent of IndiGo, disclosed a penalty of over Rs 1.27 crore imposed by the Joint Commissioner of State Tax (Appeals) IV, Mumbai, for denied GST input tax credit availed during July 2017–March 2018, including interest and penalty. The airline considers the order erroneous, backed by external tax advisors, and will challenge it, stating no significant financial impact.
InterGlobe Aviation, parent of IndiGo, disclosed a penalty of over Rs 1.27 crore imposed by the Joint Commissioner of State Tax (Appeals) IV, Mumbai, for denied GST input tax credit availed during July 2017–March 2018 |
New Delhi: IndiGo on Friday said it has been slapped with a penalty of little over Rs 1.27 crore related to GST input tax credit, and that it will challenge the order. In a filing to the BSE, the airline's parent InterGlobe Aviation said it has been denied input tax credit availed, and has received demand along with interest and penalty by Office of the Joint Commissioner of State Tax, (Appeals) IV Bandra, Mumbai.
"The company believes that the order passed by the authorities is erroneous and it has a strong case on merits, backed by advice from external tax advisors," it added. The fine totalling Rs 1.27 crore is for the July 2017 to March 2018 period. While noting that there is no significant impact on financials, the company also said it would contest the same before the appropriate authority.
Disclaimer: This story is from the syndicated feed. Nothing has been changed except the headline.
RECENT STORIES
-
-
-
-
-