Latest News | Sun Pharma Gets Rs 1.11 Cr Tax Demand

New Delhi, Apr 29 (PTI) Sun Pharmaceutical Industries Ltd on Monday said it has received a tax demand of over Rs 1.11 crore from authorities over disallowed input tax credit.

The company has received an order from the Joint Commissioner, CGST and Central Excise, passed under the GST Act, raising a demand of Rs 1,11,60,156, imposing a penalty of Rs 11,16,016 and interest as applicable, Sun Pharmaceutical Industries said in a regulatory filing.

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The reason for the order is disallowed input tax credit on account of inadmissible transitional credit, it added.

"There is no material impact on financial, operation or other activities of the company," the filing said.

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(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)