The country’s largest airline company Indigo has shared its reaction with the stock market on the matter related to input tax credit. The airline company said that it will challenge two orders related to input tax credit (ITC) with a total penalty of Rs 3,50,299. Let us tell you that Indigo was fined Rs 1,77,046 in the case of Goods and Services Tax (GST) in Odisha. Indigo’s parent company InterGlobe Aviation said in a notice to the stock market exchanges, “The appellate authority has rejected the appeal filed by the company and upheld the demand due to availment of input tax credit for the financial year 2017-18.”
The company has also been fined Rs 1.73 lakh in Kerala
The company said that it is in the process of challenging the order before the Appellate Tribunal. In another case, a fine of Rs 1,73,253 has been imposed on the company in Kerala. It said that the tax officer has rejected its claim related to input tax credit. In this case, the company said that it is in the process of challenging the order before the appropriate appellate authority.
IndiGo’s parent company’s shares saw a slight decline on Wednesday
On Wednesday, IndiGo’s parent company InterGlobe Aviation Limited’s shares saw a slight decline and the company’s shares closed at Rs 4298.70 with a fall of 0.08 percent (Rs 3.50). On Tuesday, the company’s shares closed at Rs 4302.20 and on Wednesday opened with a rise at Rs 4314.95. During trading on Wednesday, the company’s shares reached from Day Low of Rs 4284.55 to Day High of Rs 4351.00.
