Aurobindo Pharma Limited has informed the Exchange about General Updates
AUROPHARMA · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
The Principal Commissioner of Customs and Central Tax (Appeals I), Hyderabad has upheld an order against Aurobindo Pharma confirming a GST demand of Rs. 77.61 crore along with a penalty of an equal Rs. 77.61 crore. The dispute relates to alleged excess IGST refund claims (CIF vs FOB basis), non-surrender of IGST on short realization of export proceeds between July 2017 and March 2020, and non-reversal of ITC under Rule 37 of CGST Rules. The appellate authority gave partial relief by dropping the interest demand on ITC reversed under Rule 37. The company had already paid Rs. 23.72 crore under protest and reversed Rs. 8.78 crore in ITC, which was accepted by the authorities. Aurobindo plans to appeal the order at the GST Appellate Tribunal (GSTAT) within the stipulated time.
Total potential exposure stands at roughly Rs. 155 crore (demand + penalty), partially offset by amounts already paid. While the company has stated there is no material impact on its financials or operations, the unresolved tax litigation remains a moderate overhang and could create short-term pressure on the stock until the GSTAT appeal is heard.