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Vodafone Idea Ltd ( (IN:IDEA) ) has provided an update.
Vodafone Idea Limited has disclosed that it has received an order from the Deputy Commissioner, Large Taxpayer Unit, West Bengal, under Section 73 of the Central and State Goods and Services Tax Acts, confirming a penalty of Rs 4.16 crore along with associated tax demand and interest. The order stems from alleged excess availment of input tax credit and payment of tax under an incorrect head, and while the maximum financial exposure equals the tax, interest and penalty levied, the company has stated it disagrees with the order and plans to pursue appropriate remedies for its rectification or reversal, signalling an ongoing tax dispute that could marginally affect its financials and underscores continuing regulatory scrutiny on large telecom operators.
More about Vodafone Idea Ltd
Vodafone Idea Limited is a major Indian telecommunications service provider offering mobile voice, data and digital services across India’s consumer and enterprise markets. Formed through the merger of Vodafone India and Idea Cellular, the company operates in a highly competitive sector and is closely watched by investors for its financial health, regulatory exposures and compliance with Indian telecom and tax regulations.
Average Trading Volume: 78,435,362
Technical Sentiment Signal: Buy
Current Market Cap: 1295.8B INR
Find detailed analytics on IDEA stock on TipRanks’ Stock Analysis page.