Aurobindo Pharma Hit with ₹13 Crore Tax Demand
May 4, 2024, 9:32 am
Aurobindo Pharma Ltd. faces a hefty tax demand of over ₹13 crore, including interest and penalties, from the GST authority. The demand stems from an ineligible input tax credit claim, according to the Deputy Commissioner of GST in Hyderabad. The order requires the company to reverse ITC, pay GST of ₹6,54,50,645, along with interest of ₹5,92,20,900, and a penalty of ₹65,51,354. Aurobindo Pharma plans to appeal the decision, stating that it will not impact its financials or operations.