Sanofi India secures ₹1.33 crore GST refund from Goa authorities

Sanofi India Limited secured a Goods and Services Tax (GST) refund of ₹1,32,93,535 following an order by the Deputy Commissioner of Central Goods & Service Tax in Goa. The authority accepted the company’s application to grant the refund without adjusting it against an existing tax demand.

The order, received by the company on August 12, 2026, specifically dropped the proposed adjustment of the refund amount against an outstanding demand of ₹75,63,190. This decision allows the full refund value to be processed independently of the pending liability.

Regulatory Disclosure Details

The disclosure was made under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The key details of the regulatory action are outlined below:

Metric:	Details
Authority:	Deputy Commissioner, CGST, Division –IV, Margao-Goa
Refund Sanctioned:	₹1,32,93,535
Outstanding Demand:	₹75,63,190
Action Taken:	Adjustment of demand against refund dropped
Order Date:	August 12, 2026

Financial Impact

The company stated that there is no material impact on its financial, operational, or other activities resulting from this order. The disclosure was signed by Haresh Vala, Company Secretary and Compliance Officer, and filed with both the Bombay Stock Exchange and the National Stock Exchange of India Limited.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
+0.26%	-2.30%	-2.74%	-18.90%	-36.15%	-63.16%

Sanofi India Limited has received an order vacating a tax demand of Rs 72,71,510 for Assessment Year 2019-20, following a favourable decision by the Commissioner of Income Tax Appeal (CIT(A)). The Assistant Commissioner of Income Tax, TDS OSD TDS Circle 2(2), Mumbai, passed the order on August 11, 2026, giving effect to the appellate order dated July 2, 2026. This resolution concludes proceedings initiated under Section 201 of the Income-tax Act, 1961, regarding non-deduction of Tax Deducted at Source (TDS) on year-end provisions.

The disclosure was made under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Sanofi India Limited had previously intimated the stock exchanges on July 3, 2026, regarding the receipt of the favourable Appellate Order. The final order formally deletes the demand, providing closure to the specific tax dispute for the relevant assessment year.

Order Details

Parameter	Details
Authority	Assistant Commissioner of Income Tax, TDS OSD TDS Circle 2(2), Mumbai
Appellate Authority	Commissioner of Income Tax Appeal (CIT(A)) - 49, Mumbai
Assessment Year	2019-20
Demand Vacated	Rs 72,71,510
Date of Order Receipt	August 11, 2026
Nature of Dispute	Non-deduction of TDS on year-end provisions

Financial Impact

The company stated that there is no material impact on the financial, operational, or other activities of Sanofi India Limited. The vacated demand relates to a past assessment year and does not affect current period profitability or cash flows. The resolution removes a contingent liability associated with the earlier tax proceedings.

Regulatory Compliance

Haresh Vala, Company Secretary and Compliance Officer at Sanofi India Limited, submitted the disclosure to the Bombay Stock Exchange and the National Stock Exchange of India Limited. The filing confirms compliance with SEBI LODR Regulations, ensuring transparency for investors regarding significant regulatory developments affecting the company's tax position.