Zydus Lifesciences Limited has informed the Exchange about General Updates
ZYDUSLIFE · price
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Awaiting price reaction for this filing.
Zydus Lifesciences has received an order from the Commissioner of CGST, Ahmedabad confirming a demand of ₹33.50 million (plus applicable interest and penalty) related to alleged irregular availment of CENVAT credit on sales commission paid to foreign entities, covering March 2008 to June 2017. Earlier show cause notices had raised an aggregate demand of ₹392.47 million, of which ₹358.97 million has already been dropped after the company's submissions. The company has stated it intends to challenge the order by filing an appeal and that there is no material financial impact on its operations.
The confirmed demand is small relative to the company's size and management says it will not materially affect financials, but the dispute remains open as the appeal is filed. Shareholders should monitor the appeal outcome, though near-term stock impact is expected to be limited.