Natco Pharma faces GST tax demand of about 60 lakhs from Andhra Pradesh authorities
NATCOPHARM · price
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Natco Pharma received a GST order from the Andhra Pradesh tax authority covering the audit period from April 2020 to December 2024. The order relates to lower reporting under the Reverse Charge Mechanism in GSTR 3B returns. The total demand is about Rs 59.87 lakhs, split as Rs 21.35 lakhs tax, Rs 17.18 lakhs interest, and Rs 21.35 lakhs penalty. The company is evaluating the matter and will decide on the next course of action. Natco has stated there is no material impact on its financial or operational activities.
Small tax demand of about 60 lakhs versus a large company size; not material per company. May appeal; watch for updates.