Central Tax Dept Levies Rs.184 Crore On Dr. Reddy's Labs For Not Paying GST On Settled Amount

Central Tax dept levies Rs.184 crore on Dr. Reddy's Labs for not paying GST on settled amount

The company plans to challenge the order

The Additional Commissioner of Central Tax, Hyderabad, has fined Rs.184.36 crore on Dr. Reddy's Laboratories Ltd for allegedly receiving an excess refund and not paying the Goods and Services Tax (GST) on the settlement amount.

The order of the Central Goods and Services Tax (CGST) Ranga Reddy Commissionerate levied Rs.1,84,35,58,762 under the CGST Act, 2017.

The disclosure was made under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Dr. Reddy's Laboratories stated, "The company will evaluate filing necessary appeals with the appellate authority.”