Dr. Reddy’s Laboratories Ltd (RDY) has released an update.
Dr. Reddy’s Laboratories Ltd. has notified authorities of receiving a tax demand order from GST authorities in Tamil Nadu and Odisha, including interest and penalties for the alleged wrongful availing of input tax credit for the year 2018-19. The company faces penalties amounting to Rs. 5,20,076 and Rs. 2,75,331 respectively but asserts that these will not materially impact its financials or operations. An appeal against the order is planned by the company.
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