NewsStocksSanofi India Limited Receives ₹1.43 Crore Tax Demand Order from CGST & Central Excise AuthoritiesSanofi India Limited Receives ₹1.43 Crore Tax Demand Order from CGST & Central Excise Authorities
Sanofi India Limited disclosed receiving a tax demand order of ₹1.43 crores plus equal penalty from CGST & Central Excise authorities for alleged wrong Input Tax Credit utilization during FY 2018-19 to FY 2022-23. The order was received on December 29, 2025, with additional interest charges applicable under CGST and IGST Act, 2017.
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Sanofi India Limited has disclosed receiving a significant tax demand order from the Principal/Joint Commissioner of CGST & Central Excise, Mumbai. The pharmaceutical company made this disclosure on December 30, 2025, in compliance with Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Tax Demand Details
The order issued by the tax authorities covers a substantial period and involves significant financial implications for the company:
| Parameter | Details |
|---|---|
| Issuing Authority | Principal/Joint Commissioner of CGST & Central Excise, Mumbai |
| Period Covered | FY 2018-19 to FY 2022-23 |
| Tax Demand | ₹1,43,49,690 |
| Penalty | ₹1,43,49,690 |
| Interest | As applicable under CGST and IGST Act, 2017 |
| Order Date | December 29, 2025 |
| Receipt Date | December 29, 2025 |
Nature of Alleged Violation
The tax demand order has been issued on account of alleged wrong availment and utilization of Input Tax Credit (ITC). This relates to the company's tax credit claims during the specified five-year period from FY 2018-19 to FY 2022-23.
Financial Impact
The total financial exposure includes:
- Primary tax demand: ₹1.43 crores
- Penalty amount: ₹1.43 crores (equal to the tax demand)
- Interest charges: To be calculated at applicable rates under CGST and IGST Act, 2017
The combined exposure of tax demand and penalty alone amounts to ₹2.87 crores, excluding the interest component which will be calculated separately.
Regulatory Compliance
Sanofi India Limited has fulfilled its disclosure obligations under SEBI regulations by promptly informing the stock exchanges. The disclosure was signed by Haresh Vala, Company Secretary and Compliance Officer (Membership No.: A18246), ensuring proper corporate governance protocols were followed.
The company submitted this information to both BSE Limited (Scrip Code: 500674) and National Stock Exchange of India Limited (Symbol: SANOFI) as required under the listing regulations.
Historical Stock Returns for Sanofi
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -1.59% | +1.81% | -3.91% | -30.67% | -30.37% | -48.88% |
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