InterGlobe Aviation faces INR 13m penalty notice

InterGlobe Aviation (INDIGO) disclosed that it has received a penalty order from the Assistant Commissioner of State Tax, Ahmedabad, Gujarat. The order relates to the denial of input tax credit for the financial year 2020-21, resulting in a demand of INR 13,040,966. InterGlobe Aviation believes that it has accurately availed the input tax credit and is currently evaluating legal recourse, including filing an appeal with the appropriate appellate authority. The company stated that the matter is not expected to have a significant impact on its financials, operations, or other business activities. This disclosure is in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.