Oil & Natural Gas Corporation Limited — Others, 17-03-2025: Action(s) initiated or orders passed

ONGC has received an order requiring the recovery of ₹11.32 crore in GST, along with ₹9.51 crore in interest and a penalty of ₹1.13 crore concerning allegations of non-payment during the period from 01.04.2020 to 14.05.2020. The company disagrees with the order, asserting that GST should not be applicable to the royalty payments for shares of other joint venture partners and plans to appeal the decision. While the financial penalties are significant, ONGC believes that the operational scale minimizes any substantial impact. This situation may lead to a cautious sentiment among investors, yet the company's proactive stance in appealing suggests a positive outlook.