Indoco Remedies Limited has informed the Exchange about Action(s) initiated or orders passed
INDOCO · price
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Indoco Remedies has received a notice dated 12th June 2025 from the Asst. Commissioner of Commercial Taxes, Bengaluru in Form GST ASMT-10 regarding alleged differences in Input Tax Credit (ITC) claims for the period 2023-2024. The tax authority has raised a potential demand of Rs. 78.25 Lakhs along with applicable interest. The company plans to file an appropriate response within the prescribed timeline based on advice from its advisors. Management has stated that it does not consider it likely that this demand will materialize into an actual liability against the company.
The potential demand of Rs. 78.25 Lakhs is relatively small for Indoco Remedies and the company believes it is unlikely to result in an actual liability. Shareholders should note this is only an initial notice and not an order, with the matter still open for defence.