Tax & Penalty31 Aug 2026, 09:00 pm
Sanofi India Receives GST Show Cause Notice for ₹72.77 Cr
AI Summary
Sanofi India Ltd has received a Show Cause Notice from the Additional Commissioner of CGST and CX, Mumbai East, alleging misclassification of certain products. The company is accused of classifying products at a concessional rate of 5% instead of 12% for the financial year 2020-21. The notice proposes a tax liability of ₹36,38,70,979 and a penalty of the same amount, totaling ₹72,77,41,958. Sanofi India is currently reviewing the notice with its tax advisors and will submit a reply within the stipulated time. The company does not anticipate any adverse financial or operational impact from this notice.
Key Highlights
- Sanofi India received a GST Show Cause Notice for ₹72.77 Cr.
- Allegation of product misclassification for FY 2020-21.
- Proposed tax liability and penalty amount to ₹36.38 Cr each.
- Company is reviewing and will respond to the notice.
- No adverse financial impact is currently envisaged.
Price Impact
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