Sanofi India: GST refund of INR 11.6 lakh rejected, company to appeal
SANOFI · price
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State GST authority in Ahmedabad has rejected Sanofi India's refund application of INR 11,62,853 for the period 2014-15 to July 2017. The refund was claimed on a mandatory pre-deposit made by debiting the Electronic Credit Ledger under the Central Excise Act. The authority said the pre-deposit falls under Central GST, not State GST, making the refund application not maintainable. Sanofi India will appeal before appellate authorities and says there is no material impact on financials or operations.
No material financial impact. Company will appeal. Minor tax dispute, not significant for shareholders.