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Cipla Limited has received a demand order issued by the Joint Commissioner of Central Tax from the Officer of the Principal Commissioner of Central Tax, GST East Commissionerate, Bengaluru, according to Cipla’s regulatory filing.
An order passed by the GST Authority imposing a penalty of ₹ 10,95,32,757 on Cipla under applicable provisions of the Central Goods and Services Tax Act, 2017, Rajasthan Goods and Services Tax Act, 2017, and Integrated Goods and Services Tax Act, 2017.
Leading pharmaceutical manufacturer Cipla Ltd received an additional tax demand of Rs.773.44 crore from the income tax department for assessment years 2015-16 to 2022-23, the drug maker said in a stock exchange filing on July 16.
Pharma major Cipla Ltd on Friday said it has been imposed a penalty of Rs 1.83 crore by the GST authority for claiming inadmissible transitional credit on education cess.