Zydus unit faces Rs 2.17 million tax demand, plans appeal

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ZYDUSLIFE · price

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AI summary

Zydus Healthcare Limited, a wholly owned subsidiary, received a tax demand from the CGST authority in Cuttack, Odisha. It relates to disallowed input tax credit and short tax payment under the reverse charge mechanism for April 2018 to March 2023. The demand is Rs 2.17 million, with a Rs 2.17 million penalty and applicable interest. ZHL plans to appeal and says there is no material impact.

Likely market impact

The company expects no material financial impact and will appeal. The main risk is additional interest or penalty if the challenge fails.