Mumbai, February 5, 2025 – Sanofi India Limited has disclosed a demand notice issued by the Office of the Deputy Commissioner, Central Goods & Service Tax (CGST) and Central Excise Division (Range-IV), Lucknow-I. The notice pertains to an alleged claim of ineligible credit for the financial years 2017-18 to 2021-22.
Key Details of the GST Demand Notice
- Issuing Authority: Office of the Deputy Commissioner, CGST & Central Excise Division, Lucknow-I
- Nature of Action: Demand of ineligible credit claimed for FY 2017-18 to FY 2021-22
- Date of Order Issuance: February 4, 2025
- Alleged Violation:
- Claiming ineligible credit amounting to INR 14,63,173/-
- Levy of interest on the disputed amount
- Imposition of a 100% penalty on the credit amount
Financial and Operational Impact
Sanofi India has confirmed that the demand notice does not have any material impact on the company’s financial, operational, or other business activities.Rachid Ayari, Whole-time Director and CFO of Sanofi India Limited, signed the disclosure, ensuring compliance with regulatory requirements.
The company has not disclosed any further steps regarding contesting the demand but has assured stakeholders of full regulatory compliance.