Hindustan Zinc gets Rs. 91 crore GST demand, Company plans legal challenge, HZL stocks in green
Hindustan Zinc Limited (HZL), a subsidiary of Vedanta Ltd, disclosed that it has received an order from the Additional Commissioner, Central Excise and CGST Commissionerate, Udaipur, demanding payment under the Central Goods and Services Tax Act, 2017, as per a regulatory filing. The company has been directed to pay Rs.91,90,16,104 as GST, along with an equivalent amount of penalty and applicable interest.
The stocks of Hindustan Zinc Limited were up 0.94 per cent at Rs.296.75, at 1:51 pm on March 22, on BSE. HZL's stock is around 13 per cent down from its 52-week high ofRs.344. The company enjoys a market capitalisation of Rs.1,25,386 crore.
Additionally, the restructuring plan of Hindustan Zinc Ltd (HZL), aimed at creating two distinct entities, may be postponed for the time being. This comes as the government, holding a 29.54 per cent stake in the company, has shown reluctance towards the proposal.
