Dr. Reddy's Laboratories Limited received an order from The Commissioner of CGST, (Appeals), Chandigarh towards tax demand including interest and penalty. The Company has received appellate order confirming the tax demand including interest and penalty under Section 73 /50 of the CGST Act, 2017. Order dated April 12, 2024 was received by the authorized officials of the Company on April 18, 2024.

The appellate authority has rejected appeal relating to availment of credit in GST return. The order levies a penalty of INR 3,651,179/-. Based on evaluation, there is no material impact on the financials, operations, or other activities of the Company.

The Company will file necessary appeal with the appellate authority in this regard.