Vedanta Limited — Others, 09-11-2024: Action(s) taken or orders passed

Hindustan Zinc Limited (HZL), a subsidiary of Vedanta Limited, has announced a penalty of ₹2.99 crore, confirmed by the Office of the Commissioner of Central Excise & CGST. This penalty pertains to tax issues from FY 2017-18 related to reverse charge mechanisms. HZL plans to appeal the decision and expresses confidence that it will not have a significant financial impact on the company. Further details are available on stock exchange and HZL's websites.