InterGlobe Aviation gets GST penalty order of about Rs 58.75 crore

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AI summary

InterGlobe Aviation (IndiGo) received a GST penalty order of about Rs 58.75 crore from the Additional Commissioner of CGST, Delhi South for FY 2020-21. The tax department raised demand along with penalty. The company says the order is erroneous and plans to contest it before the appropriate authority, backed by external tax advisors. The company states there is no significant impact on its financials, operations or other activities.

Likely market impact

Minor in near term as IndiGo plans to contest the about Rs 58.75 crore GST penalty. Company claims no material financial impact. Watch case progress.