Dr. Reddy’s Laboratories Limited has received order, levying a penalty of ₹ 1,84,35,58,762/- as per provisions of the CGST Act, 2017, according to the Company’s exchange filing.
Additional Commissioner of Central Tax, Ranga Reddy GST Commissionerate, Hyderabad levied a penalty on the contention that the Company has received an excess refund and not paid GST on settlement amount.
The Company will likely file an appeal challenging the order before an appropriate forum.”The Company will evaluate filing necessary appeals with the appellate authority in this regard,” said Dr. Reddy in their exchange filing.
The disclosure was made under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
