Tax & Penalty12 Oct 2026, 05:10 pm
Voltas Ltd Wins GST Case, ₹15.43 Cr Tax Demand Dropped
AI Summary
Voltas Ltd has received a favorable order from the Office of the Deputy Commissioner State Tax, Mumbai, concerning a Show Cause Notice issued on September 21, 2026. The notice alleged wrongful availment of Input Tax Credit and short payment of tax for FY 2022-23, proposing a demand of ₹15.43 crores along with interest and a penalty of ₹14.79 crores. Following detailed submissions by Voltas, the GST Authority, through an order dated October 9, 2026, accepted the company's contentions and dropped the notice, granting complete relief. The company is disclosing this after receiving the order post-business hours on October 9, 2026.
Key Highlights
- GST Authority dropped ₹15.43 Cr tax demand against Voltas Ltd.
- Allegations included wrongful Input Tax Credit and short payment.
- Company provided detailed submissions to the GST Authority.
- Complete relief granted by the GST Authority.
- Disclosure made on the first working day after order receipt.
Price Impact
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