Zydus VTEC Subsidiary Receives Tax Demand Order Pertaining to Input Tax Credit
Zydus VTEC Limited, a wholly owned subsidiary of Zydus Lifesciences Limited, has received an Order-In-Original concerning alleged availment of inadmissible Input Tax Credit. The order was issued by the Deputy Commissioner of CGST & Central Excise, Ahmedabad North Commissionerate, covering the period from September 2020 to March 2023.The tax action was passed under Section 74 of the CGST Act, 2017. The authority has demanded and imposed a penalty of Rs. 9.00 million each for the specified period.
The following table outlines the details of the tax action initiated against Zydus VTEC Limited:
| Particulars | Details |
|---|---|
| Authority | Deputy Commissioner of CGST & Central Excise, Ahmedabad North Commissionerate |
| Order Passed Under | Section 74 of CGST Act, 2017 |
| Demand/Penalty Amount | Rs. 9.00 million each |
| Financial Period | September 2020 to March 2023 |
| Date of Order Receipt | May 4, 2026 |
Zydus Lifesciences Limited stated that the company believes the received order has strong merits and intends to appeal the decision. Regarding the impact on operations, Zydus Lifesciences Limited noted that there is no material financial impact on either ZVTEC or on the Company, expressing hope for a favorable order upon appeal based on past High Court and Supreme Court judgments.
ZYDUSLIFE Stock Price Movement
Shares of Zydus Lifesciences Limited are edging higher to ₹903.95 as of 9:49 AM today, having gained 0.18% in live trading. The stock sees robust activity early in the session, with 49,150 shares transacted so far this morning.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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