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The latest update is out from Vodafone Idea Ltd ( (IN:IDEA) ).
Vodafone Idea Limited has disclosed that the Deputy Commissioner of State Tax, Andheri Division, Mumbai, has passed an order under Section 74 of the CGST/MGST Act, 2017, confirming a demand, interest and a penalty totalling approximately Rs 795.6 crore. The demand relates to alleged tax liabilities on additional licence fees and spectrum usage charges for the financial year 2018–2019. While the company has acknowledged that the maximum financial impact corresponds to the tax demand, interest and penalty levied, it has stated that it disagrees with the order and intends to pursue appropriate measures to seek rectification or reversal, signalling a potential legal or administrative contest that could influence its near-term tax outflows and compliance landscape.
More about Vodafone Idea Ltd
Vodafone Idea Limited is a major Indian telecommunications service provider offering mobile voice and data services across India’s wireless market. The company operates in a highly regulated sector and is listed on Indian stock exchanges, making it subject to extensive financial and compliance disclosure requirements.
Average Trading Volume: 77,759,236
Technical Sentiment Signal: Buy
Current Market Cap: 1301.2B INR
For an in-depth examination of IDEA stock, go to TipRanks’ Overview page.