Novartis India Ltd — Important, 24-11-2025: Company Update

Novartis India has received an order from the Commissioner (Appeals-II) confirming a CENVAT Credit demand of INR 15,01,762 for FY 2014-15, along with interest and penalties. The total quantifiable financial impact from this order is INR 30,05,524. This action stems from a penalty for non-reversal of common input tax credit related to the sale of a business on a going concern basis. The company is evaluating its options and plans to file an appeal with the appropriate authority, keeping stakeholders informed of further developments.