Hindalco Industries slapped with a Goods and Services Tax demand of over ₹52 crore.

Hindalco Industries Limited has received an order from the Office of the Commissioner of Central Goods and Services Tax in Rourkela, Odisha, demanding a total of ₹52,66,58,508 in taxes and penalties. The demand is related to the company’s payment of water charges to the State Government and the Department has raised a reverse charge on Goods and Services Tax (GST). The company received the order on December 24, 2024, but has not yet received a physical copy of the order. Hindalco plans to appeal against the demand, citing strong cases on merit and law. The company made the disclosure under the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.