Quick Summary
Zydus Wellness Limited announced that its wholly-owned subsidiary, Zydus Wellness Products Limited (ZWPL), has received a tax demand of ₹10.51 million from Bihar state tax authorities. The demand was issued by the Office of Assistant Commissioner of State Tax, Patna Special, alleging short payment of tax for the fiscal year 2019-20, citing excess input tax credit claims. As of yesterday noon, shares of Zydus Wellness Limited were trading at ₹2,155.10, down ₹14.85 or 0.68% on the National Stoc
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FAQ :
The tax demand issued to Zydus Wellness Products Limited is ₹10.51 million.
Zydus Wellness Products Limited, a wholly-owned subsidiary, received the tax demand.
The demand is due to alleged short payment of tax for the fiscal year 2019-20, citing excess input tax credit claims.
ZWPL believes it has a strong case and is exploring options to contest the demand, including filing an appeal.
The company has stated that the order will not impact its financial or operational activities.
The order was received on September 17, 2024.
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