Mumbai, February 3, 2025 – Vodafone Idea Limited (NSE: IDEA, BSE: 532822) has disclosed an order issued under the Central Goods and Services Tax Act, 2017, imposing a penalty of ₹24,01,705 along with applicable interest and demand. The order was passed by the Assistant Commissioner, Office of the Special Commissioner, West Bengal.
Regulatory Order Details
According to Vodafone Idea’s regulatory filing under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the penalty pertains to an alleged short payment of tax. The company, however, has strongly refuted the claim and stated that it will take appropriate actions to contest the order.| Particulars | Details |
|---|---|
| Issuing Authority | Assistant Commissioner, Office of the Special Commissioner, West Bengal |
| Nature of Order | Penalty under Section 74 of CGST Act, 2017 |
| Penalty Amount | ₹24,01,705 plus demand and interest |
| Date of Order Receipt | February 3, 2025 |
| Alleged Violation | Short payment of tax |
| Company's Position | Disagrees with the order and plans to take legal action |
Financial Impact
The company acknowledged that the maximum financial impact would be limited to the tax demand, interest, and penalty levied. However, Vodafone Idea has confirmed that it does not agree with the assessment and will pursue appropriate remedies against the order.This development comes amid Vodafone Idea's broader efforts to stabilize its financial position, improve liquidity, and navigate regulatory challenges. Investors and analysts will closely monitor any further updates on the company’s course of action in this matter.
About Vodafone Idea Limited
Vodafone Idea Limited is one of India's leading telecom operators, formed through the merger of Vodafone India and Idea Cellular. The company operates under the Vi brand and is part of the Aditya Birla Group and Vodafone partnership.This news is based on Vodafone Idea Limited's regulatory disclosure filed with the stock exchanges on February 3, 2025.