Zydus Wellness subsidiary receives GST demand of Rs 56.33 crore
Ahmedabad: Zydus Wellness Products Limited, a wholly owned subsidiary of Zydus Wellness, has received a GST demand of Rs 56.33 crores along with applicable interest and penalty from the tax authority.
The intimation alleged that GST was payable in relation to acquisition of intellectual property rights from Heinz Italia S.P.A. by Heinz India Private Limited, now merged with ZWPL.
Read also: Zydus Wellness registers 20 percent net sales growth in Q1
With the launch of India’s first zero calorie replacement of sugar, called Sugar Free, in 1988, Zydus Wellness began its journey as India’s consumer Wellness Company. Since then, the company grown into a larger business, spanning the entire wellness spectrum with seven power brands - Complan, Sugar Free, I'm lite, Glucon-D, Everyuth, Nycil and Nutralite.
Read also: Setback to Zydus Wellness, Delhi HC bars Consumer goods giant from using brand name Sugarlite
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