New Delhi, Aurobindo Pharma Ltd on Friday said it has received a tax demand of over Rs 13 crore, including interest and penalty, from the GST authority on ineligible input tax credit claim.
The Deputy Commissioner of GST (ST) STU-1, Panjagutta Division, Hyderabad Commercial Taxes Department, Telangana has passed an order under the relevant provisions of the Central Goods and Services Tax Act, 2017 and TGST Act 2017 for the financial year 2018-19. . this effect.
The order seeks reversal of ITC and payment of GST of Rs 6,54,50,645 along with interest of Rs 5,92,20,900 and penalty of Rs 65,51,354, Aurobindo Pharma said in a regulatory filing.
The company said, it claims ineligible ITC and demands reversal of ITC and GST along with interest.
Arabinda Pharma said that while the company intends to file an appeal before the appellate authority, the order will not have any material impact on its financials or operations.
The Deputy Commissioner of GST (ST) STU-1, Panjagutta Division, Hyderabad Commercial Taxes Department, Telangana has passed an order under the relevant provisions of the Central Goods and Services Tax Act, 2017 and TGST Act 2017 for the financial year 2018-19. . this effect.
The order seeks reversal of ITC and payment of GST of Rs 6,54,50,645 along with interest of Rs 5,92,20,900 and penalty of Rs 65,51,354, Aurobindo Pharma said in a regulatory filing.
The company said, it claims ineligible ITC and demands reversal of ITC and GST along with interest.
Arabinda Pharma said that while the company intends to file an appeal before the appellate authority, the order will not have any material impact on its financials or operations.
