Tax & Penalty14 Jul 2026, 10:07 am
Natco Pharma Faces ₹50 Lakh Tax Demand from Andhra Pradesh Authorities
AI Summary
Natco Pharma Ltd has received an order from the Assistant Commissioner (ST)(FAC), Tenali Circle, Andhra Pradesh, raising a tax demand of ₹21,34,729/-, interest of ₹17,17,806/-, and penalty of ₹21,34,729/-. This action stems from an audit for the period April 1, 2020, to December 17, 2024, citing lower amounts reported under the Reverse Charge Mechanism (RCM) in GSTR 3B. The company is currently evaluating the matter and will decide on the appropriate course of action. Natco Pharma states there is no material impact on its financial, operational, or other activities.
Key Highlights
- Tax demand of ₹21,34,729 raised by Andhra Pradesh authorities.
- Interest and penalty totaling ₹38,52,535 also levied.
- Action relates to RCM reporting in GSTR 3B for audit period.
- Company is evaluating the situation and potential actions.
- No material impact on financial or operational activities stated.
Price Impact
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