Vedanta Limited — Others, 28-02-2025: Action(s) taken or orders passed

Bharat Aluminium Company Limited (BALCO), a subsidiary of Vedanta Limited, has received a penalty order of ₹22.38 crore from the Joint Commissioner of State Tax, Bilaspur. This penalty relates to the reversal of Input Tax Credit for the financial year 2020-21 concerning exempt and non-GST supplies. BALCO plans to appeal the order, expressing confidence in a favorable outcome, which is not anticipated to significantly impact the company's financial position. Investors may view this situation as a potential risk, but the proactive approach suggests a positive outlook for BALCO amidst the challenge.