Hindalco Industries Limited has received Orders-in-Original passed levying total fines and penalty of ₹47,74,752/-from the Office of the Deputy Commissioner of Central Goods and Services Tax, Ranchi, according to an exchange filing.
The penalty was imposed while denying the availment and utilization of transitional Cenvat Credits.
The company is likely to file an appeal challenging the order before an appropriate authority. “The Company prefers filing an appeal against the matter, and have strong cases on merit and law,” Hindalco Industries said in an exchange filing.
The order dated December 16, 2024, was received by the Company on December 26, 2024. “There was a delay in communication notification with respect to the upload of the GST order and the same is being reported as soon as such notification was received,” Hindalco Industries noted.
The disclosure was made under Regulation 30(6) read with para 20 of Schedule-III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
