InterGlobe Aviation Limited has informed the Exchange about Action(s) taken or orders passed
INDIGO · price
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IndiGo has received an assessment order from the Additional Commissioner of CGST-Delhi South Commissionerate under Section 74 of the CGST Act, 2017, covering financial years 2018-19 to 2022-23. The order imposes a GST demand along with interest and penalty totalling approximately ₹458.26 crores, relating to compensation received from a foreign supplier and denial of Input Tax Credit. The company states that it strongly believes the order is erroneous and not in accordance with law, based on advice from external tax advisors. IndiGo plans to contest the order and pursue legal remedies, and notes it is already in appeal before the Commissioner (Appeals) on a similar matter for FY 2017-18.
While the penalty amount is sizable, the company maintains it will not have a significant impact on financials or operations as the order will be contested. Short-term stock sentiment may be mildly negative due to the large headline number, but the company's stance and pending appeal process limit immediate financial risk.