Indus Towers, the country’s top telecom tower company, has claims worth Rs 14,243.3 crore against it under litigation in various courts across India, according to its latest regulatory filing on the BSE. Other key demands under litigation include a Rs 1,865.8 crore claim on levy of VAT on the right to use in goods/services provided to telcos in the pre- GST era. There is also a Rs 3,754.2 crore demand relating to denial of depreciation on assets received under the merger (read: read the Indus-Bharti Infratel merger). However, the service tax department subsequently moved the Supreme Court, and the same is pending adjudication. “The matter will come up for final arguments in due course,” Indus said in its exchange filing.

Source: Economic Times August 16, 2023 13:25 UTC