Novartis India Ltd — Important, 30-03-2026: Company Update

Novartis India Limited's petition challenging a DVAT assessment for AY 2013-14 has been admitted by the Delhi High Court. The original assessment involved a demand of approximately 10.89 Cr for tax and interest, plus a penalty of 6.85 Cr. This is a procedural step, not a final order. The company seeks to compel the tax authority to complete proceedings within timelines. A favorable decision could result in a refund of 0.54 Cr. If the outcome is unfavorable, there will be no additional financial impact as the pre-deposit amount is already provided for in the books.