IndiGo Faces ₹117.52 Crore Tax Penalty For ITC Issue

InterGlobe Aviation, parent of IndiGo, received a ₹117.52 crore penalty from CGST Kochi over denial of input tax credit for FY 2018-19 and 2021-22. The airline said the order is erroneous and will be contested with advice from external tax experts. It added the penalty won’t significantly impact operations or finances, though shares dipped 1.64% intra-day to ₹5,699.50.