New Delhi: State owned MOIL Ltd has announced to the exchanges that it has received a GST demand order from the State Tax Office, Nagpur, Maharashtra.
According to the filing, this is to inform that the Company has received an order from the Deputy Commissioner of State Tax, Nagpur, related to short payment of GST under Reverse Charge Mechanism on royalty, DMF and NMET charges pertaining to mining operations and penalty thereon.
The Deputy Commissioner of State Tax, Nagpur has passed an order in Form GST DRC-07 under Section 73 of the CGST/SGST Act, 2017 for FY 2021-22 relating to Reverse Charge Mechanism (RCM)on Royalty, DMF and NMET.
The details of the violations have been cited as Short payment of GST under Reverse Charge Mechanism on royalty, DMF and NMET charges pertaining to mining operations for the period 01.04.2021 to 31.03.2022.
The Total demand of the penalty is of Rs. 1,36,80,967/- comprising GST, Interest and Penalty.
Further, no immediate operational impact. The Company is examining the order and will take appropriate legal steps, including filing of appeal within the prescribed time.