Business News : The country 's largest airline company, IndiGo, has shared its reaction with the stock market on the matter related to input tax credit. The airline company said that it will challenge two orders related to input tax credit (ITC) with a total penalty of Rs 3,50,299. Let us tell you that IndiGo was fined Rs 1,77,046 in the case of Goods and Services Tax (GST) in Odisha. IndiGo's parent company, InterGlobe Aviation, said in a notice to the stock market exchanges, "The appellate authority has rejected the appeal filed by the company and has upheld the demand due to availing input tax credit for the financial year 2017-18.

A fine of Rs 1.73 lakh has also been imposed on the company in Kerala

The company said that it is in the process of challenging the order before the appellate tribunal. In another case, a fine of Rs 1,73,253 has been imposed on the company in Kerala. It said that the tax officer has rejected its claim related to input tax credit. In this case, the company said that it is in the process of challenging the order before the appropriate appellate authority.

IndiGo's parent company's shares fell marginally on Wednesday

On Wednesday, shares of IndiGo's parent company InterGlobe Aviation Limited witnessed a marginal decline and the company's shares fell by 0.08 percent (Rs 3.50) to close at Rs 4298.70. On Tuesday, the company's shares closed at Rs 4302.20 and on Wednesday, they opened with a rise at Rs 4314.95. During the trading on Wednesday, the company's shares reached from the day low of Rs 4284.55 to the day high of Rs 4351.00.