Sanofi India Limited has received an order from the State Tax Officer, Tiruvallur Assessment Circle, concluding proceedings for FY 2022-23. The order accepts the company’s submissions and drops a total tax demand of Rs. 1,06,78,760/- along with interest and penalty. This development means there are no additional dues pending for the specified period.
State Tax Proceedings Concluded for FY 2022-23
Sanofi India Limited has disclosed a significant development regarding its tax assessments. The company received an order from the State Tax Officer, Tiruvallur Assessment Circle, concerning the financial year 2022-23. This order concludes the proceedings initiated under Section 73 of the TNGST/CGST Act, 2017.
Zero Tax Demand Issued
In a favorable outcome for the company, the State Tax Officer has accepted Sanofi India’s submissions. Consequently, the previously proposed total tax demand of Rs. 1,06,78,760/-, which included interest and penalty, has been dropped. The proceedings have been concluded with no additional dues pending against the company for the financial year 2022-23. This resolution avoids any potential financial strain related to this specific tax assessment.
No Material Financial Impact
The company has confirmed that this outcome has no material impact on its financial, operational, or other activities, reinforcing the positive nature of the concluded tax assessment.
Source: BSE
