IndiGo Faces ₹115.86 Crore GST Penalty, Vows to Challenge Order
IndiGo has been hit with a ₹115.86 crore penalty by GST authorities, as per a regulatory filing on Wednesday. The penalty, issued on February 4, mainly stems from tax disputes over services provided to offshore clients, which were not classified as "export of services," along with the denial of input tax credit (ITC) for FY18, FY19, and FY20.
Despite the hefty fine, IndiGo assured that its financials and operations remain unaffected. The airline has stated that it is actively challenging the order before the appellate authority.