Aurobindo Pharma Slapped With Rs 11 Crore GST Demand, Plans Appeal
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Hyderabad: Aurobindo Pharma has been hit with a Rs 11 crore GST demand by Andhra Pradesh authorities, accusing the company of overstating its Input Tax Credit (ITC) for the financial years 2017-18 to 2019-20, along with interest.
The Additional Commissioner (ST), Appellate Authority, Vijayawada, Andhra Pradesh, has sent a notice to the drugmaker demanding the reversal of Input Tax Credit (ITC) and payment of Goods and Services Tax (GST) for the financial years 2017-18 to 2019-20. The total amount in dispute stands at Rs 11.05 crore, including the reversal of ITC amounting to Rs. 5.68 crore, interest of Rs. 4.79 crore, and a penalty of Rs. 56.86 lakh.
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