Appellate authority confirms ₹155 cr. tax demand on Aurobindo Pharma

Aurobindo Pharma on Friday said the Principal Commissioner of Customs and Central Tax (Appeals I), Hyderabad, has confirmed orders passed by the Additional Commissioner of Central Tax, Ranga Reddy GST Commissionerate, in a case involving GST demand, interest and penalty of more than ₹155 crore.

The Appellate Authority confirmed the orders alleging the company has received excess IGST refund, non-surrender of IGST on short realisation of export proceeds in respect of exports made during the period July 1, 2017 to March 23, 2020 and non-reversal of ITC in terms of Rule 37 of CGST Rules.

The GST demand was for ₹77,61,35,242 along with interest and also a penalty of ₹77,61,35,242.

The company said it has already paid ₹23,71,71,782 under protest and reversed input tax credit (ITC) of ₹8,78,23,385 which has been accepted by the authorities. Aurobindo said it intends to file appeal in the Goods and Services Tax Appellate Tribunal (GSTAT).