IndiGo faces nearly Rs 59 crore penalty in relation to GST; airline to contest order
Shares of IndiGo closed marginally higher at Rs 4,860.85 on the BSE on Friday
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IndiGo has been slapped with a penalty of nearly Rs 59 crore in relation to GST and the airline will contest the order, according to a regulatory filing on Friday.
The Additional Commissioner of CGST, Delhi South Commissionerate, has imposed the penalty of Rs 58,74,99,439 on the airline for the financial year 2020-21.
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In a filing to the BSE, IndiGo said the department has raised GST demand, along with penalty.
“The company believes that the order passed by the authorities is erroneous. Further, the company believes that it has a strong case on merits, backed by advice from external tax advisors.
“Accordingly, the company will contest the same before the appropriate authority,” it said.
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Further, the airline said there is no significant impact on financials, operations or other activities.
Shares of IndiGo closed marginally higher at Rs 4,860.85 on the BSE on Friday.
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