Zydus Healthcare Receives Partial Relief on GST Demand Orders for FY 2018-19 and 2019-20
Zydus Healthcare Limited (ZHL) has received a favourable ruling from the Appellate Additional Commissioner of State, Chhattisgarh, resulting in a partial drop of both demand and penalty pertaining to Input Tax Credit (ITC) charges. The relief pertains to initial Demand Orders issued for the financial years 2018-19 and 2019-20.The company had previously been subject to demands regarding these orders. Following the ruling from the Appellate Additional Commissioner, the demand and penalty related to GST have been significantly reduced across both mentioned fiscal years.
Details of the initial and revised financial demands are provided below:
| Financial Year | Initial Demand (including penalty) | Revised Amount Dropped To |
|---|---|---|
| FY 2018-19 | Rs. 28.7 lakhs | Rs. 0.24 lakhs |
| Initial Penalty: Rs. 1.6 lakhs | Revised Penalty: Rs. 0.20 lakhs | |
| FY 2019-20 | Rs. 13.2 lakhs | Rs. 0.20 lakhs |
| Initial Penalty: Rs. 0.9 lakhs | Revised Penalty: Rs. 0.20 lakhs |
The ruling marks a material reduction in the demand and penalty associated with the Input Tax Credit orders for Zydus Healthcare Limited concerning these financial years.
ZYDUSLIFE Stock Price Movement
Today, Zydus Lifesciences Limited's shares surged in the closed market to settle at ₹1105.6, driven by a 1.45% gain or ₹15.80 over the trading day. The equity traded with impressive strength, posting an intraday high of ₹1111 and handling nearly 1.3 million shares as it neared its 52-week peak of ₹1115.5.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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