India, July 14 -- Natco Pharma Ltd. has received a GST demand order from the Assistant Commissioner (ST), Tenali Circle, Andhra Pradesh, following an audit conducted for the period April 1, 2020, to December 17, 2024.
The order raises a tax demand of Rs 21.35 lakh, along with interest of Rs 17.18 lakh and a penalty of Rs 21.35 lakh, taking the total demand to approximately Rs 59.87 lakh.
According to the company, the demand pertains to the alleged under-reporting of liability under the Reverse Charge Mechanism (RCM) in GSTR-3B returns.
Natco Pharma said it is currently evaluating the order and will take appropriate legal action. The company further clarified that the matter is not expected to have any material impact on its financial pos...