Media365
Generic drugmaker Aurobindo Pharma has received order under the Central Goods and Services Tax Act, 2017, asking it to pay GST, interest and a penalty of more than ₹155 crore.
Additional Commissioner of Central Tax, Ranga Reddy GST Commissionerate, Hyderabad, passed the order for the period 2017-18 to 2021-22 demanding GST of ₹77,61,35,242 along with interest. Further, a penalty of ₹77,61,35,242 was imposed, Aurobindo Pharma said in a filing on Wednesday.
An amount of ₹23,71,71,782 paid under protest by the company and ITC of ₹8,78,23,385 reversed by the company were ordered for appropriation, it said.
The order was passed on the contention that the company received excess IGST refund; non-surrender of IGST on short realisation of export proceeds with respect of exports during July 1, 2017 to March 23, 2020 and non-reversal of ITC in terms of Rule 37 of CGST Rules. The company intends to file an appeal before the Appellate Authority, Aurobindo Pharma said.
Published – February 05, 2025 08:13 pm IST
