Oil & Natural Gas Corporation Limited — Others, 10-06-2025: Action(s) initiated or orders passed

ONGC has received a tax recovery order demanding ₹40.7 Cr for inadmissible IGST Input Tax Credit, along with ₹1.22 Cr interest and an equal penalty. The issue relates to ITC usage in Oct-Nov 2019 despite available cash balance, which was subsequently corrected. ONGC highlights no actual tax shortfall and considers the financial impact minimal given its scale. The company intends to challenge the order through an appeal.