Sai Life Sciences Receives INR 32.85 Crore GST Demand

Sai Life Sciences discloses an order from the Joint Commissioner of Commercial Taxes (Appeals) demanding INR 32.85 crore for alleged excess ITC availment.
The demand comprises INR 16.28 crore in tax, INR 13.32 crore in interest, and INR 3.26 crore in penalty for FY 2021-22.
The company states it will file an appeal and does not expect the order to have any material financial impact.
This is a mandatory disclosure under SEBI Listing Regulations (Regulation 30) for material events.