Sanofi India Limited — Important, 21-02-2025: General Updates

Sanofi India Limited has received a revised tax demand of ₹16,84,093 from the Office of the Assistant Commissioner, GST, for the financial year 2020-21, related to excess Input Tax Credit (ITC) discrepancies between GSTR-3B and GSTR-2A. The original demand was ₹27,13,864, but following the company's explanations during the hearing, the amount was adjusted. Additionally, interest and penalties totaling ₹1,68,409 have been excluded from this demand. The company is currently evaluating its options, including the possibility of filing an appeal or rectification to address this issue. However, management indicates there is no material impact on its financial or operational activities, suggesting a manageable outcome. Investors should monitor this situation closely for any developments that may arise from the ongoing evaluation process.