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.
