Sun Pharma Advanced Research Wins CESTAT Ruling, Secures Rs 27.51 Cr CENVAT Refund
Mumbai: Sun Pharma Advanced Research Company Limited (SPARC) has won a litigation before the Customs, Excise & Service Tax Appellate Tribunal (CESTAT), Mumbai, with the Tribunal upholding the company's entitlement to a refund of accumulated CENVAT credit amounting to Rs 27.51 crore.
In a filing, SPARC said the Tribunal upheld the Order-in-Appeal dated April 27, 2018, which had been passed in favour of the company, and confirmed its entitlement to a refund of accumulated CENVAT credit along with consequential interest, where applicable.
The amount involved in the matter is Rs 2,751 lakh (Rs 27.51 crore).
According to the company, the litigation stands decided in its favour and the Revenue's appeal has been dismissed.
The latest development relates to the ongoing proceedings before CESTAT, Mumbai, and was disclosed by the company under Regulation 30 of the SEBI Listing Regulations.
Disclaimer: This website is primarily for healthcare professionals. The content here does not replace medical advice and should not be used as medical, diagnostic, endorsement, treatment, or prescription advice. Medical science evolves rapidly, and we strive to keep our information current. If you find any discrepancies, please contact us at corrections@medicaldialogues.in. Read our Correction Policy here. Nothing here should be used as a substitute for medical advice, diagnosis, or treatment. We do not endorse any healthcare advice that contradicts a physician's guidance. Use of this site is subject to our Terms of Use, Privacy Policy, and Advertisement Policy. For more details, read our Full Disclaimer here.
NOTE: Join us in combating medical misinformation. If you encounter a questionable health, medical, or medical education claim, email us at factcheck@medicaldialogues.in for evaluation.