Tax & Penalty30 Apr 2026, 08:35 am
Sai Life Sciences Faces ₹32.86 Cr GST Demand & Penalty
AI Summary
Sai Life Sciences Ltd received an order from the Joint Commissioner of Commercial Taxes (Appeals), Kalaburagi, demanding ₹16.28 Cr in IGST, ₹13.31 Cr in interest, and ₹3.25 Cr in penalty under the Goods and Services Tax Act, 2017. The demand relates to alleged excess availment of Input Tax Credit for FY2021-22. Sai Life Sciences plans to appeal the order and anticipates a favorable outcome, expecting no material financial impact on the company.
Key Highlights
- Sai Life Sciences faces a total demand of ₹32.86 Cr including IGST, interest, and penalty.
- The demand is related to alleged excess Input Tax Credit availment in FY2021-22.
- The company plans to file an appeal and expects a favorable outcome.
- Sai Life Sciences does not anticipate a material financial impact from the order.