Zydus Lifesciences Limited Receives Demand Order from State Tax Authority
Zydus Lifesciences Limited announced it has received a demand order from the Assistant Commissioner of State Tax, Gujarat, concerning alleged inadmissible availment of Input Tax Credit for the financial year 2019-20. The order, issued on March 24, 2026, includes a demand for Rs. 3.28 crore, encompassing interest and penalty, as per the CGST Act, 2017.The company stated it firmly believes it has strong merits and intends to appeal the order. The company anticipates a favorable outcome based on previous High Court and Supreme Court rulings related to similar matters, and currently assesses the financial impact as immaterial.
| Particulars | Details |
|---|---|
| Name of the authority | Assistant Commissioner of State Tax, Gujarat |
| Nature and details of the action(s) taken, initiated or order(s) passed | Order passed under section 74 of CGST Act, 2017 for demand, including interest and penalty of Rs. 3.28 Cr. pertaining to financial year 2019-20. |
| Date of receipt of direction or order | 18:16 p.m. on March 24, 2026 |
| Details of the violation(s) / contravention(s) committed or alleged to be committed | The Order is passed on the issue pertaining to alleged inadmissible availment of Input Tax Credit for the financial year 2019-20 as per CGST Act, 2017. |
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