24 News Hour-News Matters
24 News Hour-News Matters
  • Home
  • Business
  • Education
  • Entertainment
  • News Update
  • Others
    • Technology
    • Health & Lifestyle
  • Privacy Policy
  1. Home
  2. Business
  3. Vedanta unveils its seventh ‘Tax Transparency Report’ at ASSOCHAM’s National Conclave on GST
Business

Vedanta unveils its seventh ‘Tax Transparency Report’ at ASSOCHAM’s National Conclave on GST

Delhi/Mumbai, 06th July, 2022: Continuing with its commitment towards highest standards of corporate governance, Vedanta Limited today unveiled its seventh ‘Tax Transparency Report’ for the fiscal year 2021-2022. This report, which was made public at ASSOCHAM’s National Conclave on GST, is a testimony to the conglomerate’s endeavour towards absolute transparency in disclosure of profits made and taxes paid.

On this occasion, Mr. Sunil Duggal, Group CEO, Vedanta said: “We are happy to present our seventh Tax Transparency Report with highest ever annual contribution of INR 54,165 crores to the exchequer which accounts for 41% of the consolidated turnover for the year, significantly up from Rs 34,562 crore contribution in FY21. In the last seven years, Vedanta’s consolidated contribution to the exchequer stands at a whopping Rs 2.65 Lakh Crore. We are poised to play a major role in supporting India’s economic growth with major thrust on our ESG commitments”.

Vedanta Limited is one of the few corporates in the country that reports key components of a company’s business activities into economic value generated, taxes paid and contribution by each of the verticals.  In the past fiscal, Vedanta generated Direct Economic Value of Rs 141,377 crore, impacting thousands of lives in its operational areas. In terms of direct taxes, the company’s contribution to the exchequer is amongst the top companies in the private sector.

Speaking at the ASSOCHAM’s National Conclave, unveiling the 7th Tax Transparency Report for Vedanta Limited, Mr. Ajay Agarwal, Group Head – Taxation said, “Over the years, Vedanta has been curating the Tax Transparency Report that gives a holistic perspective of our contributions made to the exchequer. Vedanta’s tax transparency report FY22 talks about the contribution made by Vedanta Group in India and globally as well. Such report gives an opportunity to other corporates also to come forward and share their contributions”.

Vedanta’s oil and gas operations was the largest contributor to the exchequer with a share of Rs 18,539 crore followed by Zinc, which contributed Rs 15,825 crore. Aluminium and copper contributed Rs 7,475 crore and Rs 4,565 crore, respectively.

Vedanta firmly believes in long term sustainable value creation for multiple stakeholders, including the government and society at large. Transparency being the core value, the company remains at the forefront of tax reporting by managing taxes in a transparent and straightforward manner.

Previous post
Next post

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recent Posts

  • Eureka Forbes onboards Shraddha Kapoor to champion a cleaner, healthier India
  • JEE Advanced 2025: Chapter-Wise High-Weightage Topics and Revision Strategies to Crack the Hardest Engineering Entrance
  • Godrej refrigerators lean on AI and design to elevate consumer experience
  • Rajasthan’s Rising Stars: How the Indus International Tournament is Fueling Grassroots Esports Dreams
  • ISRL SEASON 2 SEES RECORD RE-REGISTRATIONS FROM INTERNATIONAL SUPERCROSS LEGENDS
Latest News
Business

Eureka Forbes onboards Shraddha Kapoor to champion a cleaner, healthier

May 17, 2025
Education

JEE Advanced 2025: Chapter-Wise High-Weightage Topics and Revision Strategies to

May 17, 2025
Business

Godrej refrigerators lean on AI and design to elevate consumer

May 17, 2025
Sports

Rajasthan’s Rising Stars: How the Indus International Tournament is Fueling

May 17, 2025
Copyright © 2025 Qoxag. All Right Reserved.