Aurobindo Pharma faces Rs.11 cr GST demand
Aurobindo Pharma has received an Order from the Additional Commissioner (ST), Appellate authority, Vijayawada, Andhra Pradesh, passed under relevant provisions of the Central Goods and Services Tax Act, 2017 and APGST Act, 2017 for the financial years 2017-18 (from July 2017) to 2019-20 demanding reversal of ITC and payment of GST amounting to Rs. 5,68,66,547/-along with interest of Rs. 4,79,75,554/-.
The total dispute amounts to Rs. 11,05,28,755/- on the grounds of alleging an excess claim of ITC when compared to GSTR 2A & ITC Claimed on supplies received from non-filers of GSTR3B and ordering reversal of the same.
The Company is likely to file an appeal before the Tribunal. The disclosure was made under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
