Sanofi India Limited has informed the Exchange about Disclosure under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
SANOFI · price
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Awaiting price reaction for this filing.
Sanofi India received an order dated 18th May 2025 from the State Tax Officer (Kerala), State GST Department, regarding FY 2018-19. Originally, a penalty of INR 9,985,094 had been levied under section 73(9) of the CGST/SGST Act for alleged violations related to tax invoice rules. The company had applied under the Amnesty Scheme for waiver of this penalty, and the application has been accepted. The full penalty amount of INR 9,985,094 has been waived off. The company has stated there is no material impact on its financial, operational, or other activities.
This is a positive outcome for Sanofi India as the entire GST penalty has been waived under the Amnesty Scheme, eliminating a potential financial liability. The disclosure is routine and should not have a material effect on the stock price.