AstraZeneca Pharma India faces Rs 9.24 cr tax order, to appeal at GSTAT

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₹8540.00

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Nifty Microcap 250market · in no size index; the smallest one is used-0.0%+0.9% vs market

Pharmaceuticals peers, median of 164sector+0.0%+0.8% vs sector

On the reaction day the stock moved 0.9 pts more than Nifty Microcap 250 and 0.8 pts more than its Pharmaceuticals peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

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AI summary

AstraZeneca Pharma India received an unfavorable appeal order from the Deputy Commissioner of State Tax (Appeal) under section 107 of the Maharashtra GST Act for FY 2018-19. The order upheld certain adjustments relating to supplies made under the Patient Access Program. The company will challenge the order before the GST Appellate Tribunal. The claim quantum is approximately Rs 9.24 crores, excluding interest and penalty. Financial implications cannot be determined at this stage.

Likely market impact

Tax demand of about Rs 9.24 cr (excluding interest/penalty) may pressure margins if appeal fails; company is contesting further, no immediate cash outflow.