Dr. Reddy’s Laboratories Faces GST Penalty

Dr Reddy’s Laboratories (RDY) has released an update.

Dr. Reddy’s Laboratories Ltd. has been ordered to pay a tax demand including interest and penalty by the GST Authority, which the company received on August 30, 2024. The demand pertains to the financial years 2019-20 and 2020-21, concerning an alleged excess availed Input Tax Credit, resulting in a penalty of Rs.13,54,14,733. However, the company asserts that this will not materially impact its financials or operations, and plans to appeal the decision.

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