NTPC has received demand orders from seven state government authorities for GST interest and penalty, worth total of Rs100.80 crore. The order have been issued from the states of Delhi, Uttar Pradesh, Andhra Pradesh, Bihar, Chattisgarh, Maharashtra and Gujarat. The shares of the company were trading presently at Rs315.55, down 0.5 percent on the NSE, despite gaining momentum in the previous sessions trends. The order-led to the firm contribute to make it have more stable cash flows and facilitate growth driven by renewable energy. Further, the company stated that it will file an appeal before the 1st appellate authority of the applicable jurisdiction against the given order within the prescribed timelines.
The Demand Notice contains information regarding the amount of tax owed, the reason for the demand, and the period within which the tax must be paid. Under the GST regime, the basic responsibility of assessing the tax liability falls on the taxpayer himself.
A demand notice is issued by the GST officials in case of short payment or non-payment of GST. The GST authorities have proclaimed no material impact on the financials, operations, or other activities of the Corporation due to the respective mentioned orders.