NSE/BSE Codes: BSE: 500674, NSE: SANOFI
Summary of Key Information:
Nature of Event / Disclosure:
Regulatory disclosure under Regulation 30 of SEBI Listing Regulations regarding receipt of Show Cause Notice from GST Authorities.
Involved Parties / Authorities:
- State Tax Officer Ghatak 21 (Ahmedabad) Range 6 Division 2, Gujarat
- Sanofi India Limited
Date / Timeline of Event:
- Show Cause Notice Date: 28th September 2026
- Date of Receipt by Company: 28th September 2026
- Disclosure Date to Exchanges: 29th September 2026
Brief Description of Outcome / Dispute:
The company received a Show Cause Notice alleging multiple GST compliance discrepancies for FY 2022-23:
- Discrepancies between value of supplies disclosed in E-Way Bills versus corresponding disclosures in GSTR-1
- Issues relating to reconciliation of turnover reported in GSTR-9C versus turnover considered in GSTR-1
- Short reversal of input tax credit
- Availment of certain input tax credits alleged to be ineligible under applicable GST laws
The notice proposes a tax, interest, and penalty demand aggregating to ₹16,40,07,641 (₹16.40 crores).
Impact of Outcome:
Financial Impact:
The notice proposes a financial demand of ₹16,40,07,641 comprising tax, interest, and penalty components. The company states it does not envisage any adverse impact on its financials arising from this Show Cause Notice.
Operational / Business / Strategic Impact:
No material operational, business, or strategic impact disclosed. The company is examining the notice with its consultants/tax advisors and will submit a reply within the prescribed time period.
Other Implications:
No material reputational, legal, regulatory, or market perception effects disclosed in the document.
Next Steps / Required Actions:
The company is in the process of responding to the notice after receiving relevant facts. It will submit its reply within the prescribed time period and take appropriate steps as needed.