SC rejects Centre plea to revive ₹363 cr GST demand against Vodafone Idea

•The Supreme Court dismissed the Centre's appeal to revive a ₹363 crore GST demand against Vodafone Idea, upholding the Bombay High Court's decision.

•The case relates to the transfer of Vodafone Mobile Services' telecom tower business to ATC Telecom Infrastructure in 2017, following a merger with Vodafone India and Idea Cellular.

•The Bombay High Court had quashed the tax proceedings, citing that the show-cause notice was issued to an entity that no longer existed after the merger.

•Vodafone Idea shares rose nearly 4% on Monday amid heavy volumes, reaching a 25-month high of ₹15.65.