Torrent Pharmaceuticals Limited Receives an Order from Deputy Commissioner of State Tax, Guwahati -A-99, Guwahati, Assam, Imposing a Penalty of INR 3,39,842
April 30, 2024 at 01:56 am EDT
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Torrent Pharmaceuticals Limited received an order dated 27th April, 2024 from Deputy Commissioner of State Tax, Guwahati -A-99, Guwahati, Assam, imposing a penalty of INR 3,39,842. The Order alleges excess claim of ITC under ISD and ITC availed on exempt supply made during financial year 2018-19. Based on the Company assessment, an appeal will be filed and the Company is hopeful of favorable outcome at the appellate level and does not reasonably expect the said Order to have any material financial impact on the Company.
Torrent Pharmaceuticals Limited is an India-based pharmaceutical company. The Company is focused on various therapeutic segments, such as cardiovascular (CV), central nervous system (CNS), gastrointestinal (GI), vitamins minerals nutrients (VMN), anti-diabetes (AD), pain, gynecology, and dermatology. The Company is engaged in research, development, manufacturing, marketing and distribution of branded and generic pharmaceutical formulations in India and internationally. Its pediatric product brands include Tedibar, Atogla, Spoo and B4 Nappi. Its acne/facecare products brands include Clinmiskin, ACNEMOIST, TRACNILO and fash. The Company's hair/scalp care products brands include Proanagen, Perlice, Permite and NOSKURF. Its manufacturing facilities are located in the states of Gujarat, Himachal Pradesh, Madhya Pradesh, Andhra Pradesh and Sikkim. The Company's primary channel of distribution is through the wholesale drug distributors, stockiest and retail pharmacies.
Torrent Pharmaceuticals Limited Receives an Order from Deputy Commissioner of State Tax, Guwahati -A-99, Guwahati, Assam, Imposing a Penalty of INR 3,39,842
TORRENT PHARMACEUTICALS LIMITED 
