Indoco Remedies Limited — Others, 03-12-2024: Action(s) initiated or orders passed

Indoco Remedies Limited has received a Show Cause Notice (SCN) from the GST Authority regarding a potential demand of ₹15.51 Crore related to GST liabilities for the period 2020-2021, citing issues such as excess ITC claims and GSTR 9C reconciliation. The company plans to respond to the notice promptly and believes that these claims are non-tenable, supported by legal advice. Currently, no financial impact is anticipated. This update may lead to a neutral sentiment among investors, given the company's confident stance on the claims' validity.