Zydus Lifesciences GST Demand Order ₹3.28 Cr

Zydus Lifesciences received a GST demand order of ₹3.28 Cr (including interest and penalty) for FY2019-20.
The order was passed by Assistant Commissioner of State Tax, Gujarat under Section 74 of CGST Act, 2017 for alleged inadmissible ITC availment.
The Company intends to appeal the order and states there is no material financial impact on the Company.