Sanofi India Limited has received a significant Goods and Services Tax (GST) refund of ₹1,32,93,535. This refund resolves an outstanding demand of ₹75,63,190, which was previously proposed for adjustment against the refund due. The application filed by the company to receive the GST refund without it being offset against the demand has been accepted by the authorities.
Sanofi India Receives GST Refund
Sanofi India Limited has announced the successful receipt of a Goods and Services Tax (GST) refund amounting to ₹1,32,93,535. This development follows the acceptance of the company’s application by the Deputy Commissioner, Central Goods & Service Tax, Division –IV, Margao-Goa. The application was made to ensure the refund was processed without being adjusted against an existing outstanding demand.
Resolution of Outstanding Demand
The company had an outstanding demand of ₹75,63,190. The tax authority has now dropped the proposal to adjust this amount against the refund due. Consequently, the full refund of ₹1,32,93,535 has been sanctioned and received by Sanofi India. This resolution positively impacts the company’s cash flow and financial standing, resolving a prior fiscal contention.
No Material Financial Impact
Sanofi India has confirmed that this event has no material impact on the financial operation or other activities of the listed entity, quantifiable in monetary terms to the extent possible. The disclosure was made in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Source: BSE
