Sanofi India receives GST show-cause notice over FY 2022-23 input tax credit
As filed · Disclosure under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 Receipt of Show Cause Notice from GST Authorities
RegulatoryLowmateriality 35 out of 100
What happened
FactSanofi India received a show-cause notice from the Commercial Tax Officer (Audit)-6.1, DGSTO-6, Bengaluru, alleging excess input tax credit claims for April 2022 to March 2023. The notice proposes tax liability of Rs.14,43,01,828 and interest of Rs.9,30,74,679; the company is examining it and plans to respond within the prescribed period.
Why it matters
CapitSignal interpretationRegulatory action carries direct monetary penalties and can restrict how the business operates until it is resolved.
Watch next
Fact- Quantum of penalty and whether it is appealed
- Any restriction placed on operations or licences
- Timeline given by the regulator
Evidence
How CapitSignal classified this
- Reasoning:
- The notice creates a potential tax and interest exposure relating to FY 2022-23. Sanofi India stated that it does not envisage an adverse impact on its financials, operations or other activities from the notice.
- Matched on:
- the filing's own subject line
- Confidence in the event type:
- 75%