Sanofi India Limited — Others, 27-11-2024: Action(s) taken or orders passed

Sanofi India Limited has disclosed an order from the Joint Commissioner of State Tax (Appeal) in Odisha, which upholds a demand for the reversal of Input Tax Credit (ITC) amounting to ₹24.47 crore, along with interest of ₹22.01 crore and a penalty of ₹0.024 crore. While the company is evaluating the option to opt for the GST amnesty scheme, it has stated that there is no material impact on its financial or operational activities. This development could be perceived as a neutral impact for investors, given the lack of significant ramifications on the company’s overall financial health.