Tax & Penalty25 Sept 2026, 10:40 pm
Sanofi India Receives ₹23.7 Cr GST Demand Notice
AI Summary
Sanofi India Ltd has received a Show Cause Notice from the Karnataka Goods and Services Tax authorities alleging excess Input Tax Credit (ITC) availed for the period April 2022 to March 2023. The notice proposes a tax liability of Rs. 14,43,01,828 along with interest of Rs. 9,30,74,679, aggregating to Rs. 23,73,76,507. The company is consulting with tax advisors to respond to the notice and does not currently foresee any adverse financial or operational impact.
Key Highlights
- Received GST Show Cause Notice for alleged excess ITC claim.
- Proposed demand of Rs. 23.74 Cr (tax + interest).
- Notice pertains to FY 2022-23 ITC claims.
- Company is preparing a response with tax advisors.
- No immediate adverse financial impact anticipated.
Price Impact
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