Vedanta contributes over 2.74 Lakh Cr to public exchequer in 10 Years

In terms of Direct Taxes, Vedanta’s contribution to the exchequer is amongst the top in the private sector during the year FY 2021. The total contribution to the exchequer is the result of value addition by various business segments across multiple hierarchies of the business cycle.

Anil Agarwal led Vedanta Limited reported a contribution of Rs. 2,74,000 crores to the public exchequer by the way of paying excise duty, customs duty, GST, corporate tax, dividend, and others during the past decade.

The Company is among the top private sector contributors to the exchequer with a contribution of Rs. 34,500 crores in FY 2021, the company said. The tax contribution for the year 2020 was Rs. 32,400 Crores.

The total contribution to the exchequer is the result of value addition by various business segments across multiple hierarchies of the business cycle, the report said.

“Vedanta strives to be a responsible corporate citizen and to make a positive contribution to the communities in which we operate. Payment to exchequer viz. taxes, royalty, dividend, etc. is a vital part of our contribution to national economies and people’s lives. Vedanta supports the principles of greater transparency that increases understanding of tax systems and build public trust.”, the company said.

The Company has a culture of publishing a Tax Transparency Report. Tax Transparency Report came in FY 2019-20, which was its 5th edition aimed at enhancing trust between business and stakeholders, especially in those countries in which it operates.

Vedanta Limited, a subsidiary of Vedanta Resources Limited, is one of the world’s largest suppliers of natural resources, with primary operations in Oil & Gas, Zinc, Lead, Silver, Copper, Iron Ore, Steel, and Aluminium & Power across India, South Africa, Namibia, and Australia.

The company paid Rs. 9,900 Cr towards royalties to the state governments of Chhattisgarh, Rajasthan, Andhra Pradesh, Goa, and Karnataka based on extraction of bauxite, lead-zinc, iron ore, Crude oil, and natural gas, the company’s 5th TTR said.

Tax Paid in FY 2019-20