Hindustan Zinc Faces ₹73.4 Lakh Penalty in Udaipur GST Case

Hindustan Zinc Limited (HZL) received a demand order from the Udaipur tax authorities levying a penalty and tax demand totaling ₹73.4 lakh for the financial year 2024-25.

Key Details of the Demand

Total Amount: The order demanded ₹73,44,792 (₹73.4 lakh), comprising both tax liability and a corresponding penalty.
Company’s Stance: HZL, through a regulatory filing, stated that the demand is related to alleged issues under the Central Goods and Services Tax (CGST) Act, 2017, and the Rajasthan Goods and Services Tax (RGST) Act, 2017.
Next Steps: The company plans to file an appeal before the appropriate appellate authority against the order, indicating a disagreement with the tax authorities’ findings.
Assessment: HZL believes that the demand will not have any material financial impact on the company.

Source:- Financial express