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 Assistant Commissioner of State Tax, Gujarat under Section 74 of the CGST Act, 2017, raising a demand of Rs. 2.8 crore (including interest and penalty) for financial year 2018-19. The issue relates to allegedly inadmissible availment of Input Tax Credit. The company has stated it intends to appeal the order and is hopeful of a favourable outcome based on past High Court and Supreme Court precedents on similar matters. The company has clarified that there is no material financial impact from this order.
The Rs. 2.8 crore demand is small relative to Zydus Lifesciences' overall scale, and the company's confidence in winning on appeal limits the near-term concern. Shareholders are unlikely to see any meaningful effect on the stock, though the appeal outcome bears watching.