Dr Reddy’s Laboratories (RDY) has released an update.
Dr. Reddy’s Laboratories Ltd. has been ordered by the GST Authority to pay a tax demand, including interest and penalty, over allegations of excess Input Tax Credit availed for the year 2019-20. The penalty amounts to Rs. 3,05,386, but the company assesses no material impact on its financials or operations and is considering an appeal. The order was received and is currently under evaluation by the company’s legal team.
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