Zydus Lifesciences Subsidiary Wins GST Demand Appeal

Zydus Lifesciences Ltd announced that its wholly-owned subsidiary, Zydus Healthcare Limited (ZHL), has received favorable orders from the Appellate Additional Commissioner of State, Chhattisgarh. This ruling partially drops a Goods and Services Tax (GST) demand and penalty related to Input Tax Credit (ITC) for FY 2018-19 and FY 2019-20. The initial demand for FY 2018-19 was ₹28.7 lakhs, which has been reduced to ₹0.24 lakhs. For FY 2019-20, the initial demand of ₹13.2 lakhs has been reduced to ₹0.20 lakhs. This outcome represents a significant reduction in the financial liability for the subsidiary.