Sanofi India gets GST show cause notice for Rs 16.4 crores demand
SANOFI · price
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On the reaction day the stock moved 1.4 pts less than Nifty Microcap 250 and 0.8 pts less 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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Sanofi India received a Show Cause Notice on 28 September 2026 from Gujarat GST authorities for FY 2022-23. It alleges discrepancies between E-Way Bills and GSTR-1, turnover reconciliation gaps, short reversal of input tax credit, and ineligible input tax credit claims. Total proposed tax, interest and penalty demand is about Rs 16.4 crores. The company is examining the notice and will respond within the prescribed time. It states no adverse financial or operational impact is expected.
Procedural tax notice at this stage. Company says no material financial impact expected. Outcome of response will be the next datapoint to watch.