February 5, 2025 | Mumbai
Hindustan Zinc Limited (HINDZINC), a subsidiary of Vedanta Ltd., has disclosed penalties imposed by the Central Goods & Service Tax (CGST) authorities in Udaipur and Dehradun under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.Details of GST Orders:
| Authority | Nature of Action | Penalty Amount (INR) | Period |
|---|---|---|---|
| Office of Central GST, Udaipur | Disallowance of Input Tax Credit (ITC) under Section 16 of CGST Act, 2017 | ₹1,76,11,726 + Tax & Interest | FY 2017-18 & FY 2018-19 |
| Availment of ineligible ITC under Section 17(5) | ₹68,63,280 + Tax & Interest | July 2017 - March 2023 | |
| Office of Commissioner, Central GST, Dehradun | Disallowance of ITC under Sections 16 & 17 | ₹3,06,45,189 + Tax & Interest | July 2017 - March 2020 |
| Availment of Cenvat Credit through Tran-1 | ₹49,07,427 + Tax & Interest | July 2017 - March 2018 |
Date of Orders & Company Response
The orders were received by the company on February 4, 2025, with order numbers 15/GST-Dem/CGSTD-UDR-N/2025, 12/GST-Dem/CGSTD-UDR-N/2025, 49/ADC/DDN/2025, and 36/AC/RDR/Hindustan/24-25.Hindustan Zinc has stated that, considering the merits of the case, the company intends to appeal the orders before the Appellate Authority within the prescribed time limit under GST law. The company has further asserted that it does not expect a material financial impact from these orders.